ESPN and theme parks powered Disney in the fourth fiscal quarter of 2012, as the media conglomerate hit analyst expectations for earnings per share on the dot at $0.68.
For the year, Disney posted year-over-year growth, earning $9.96 billion in segment operating income -- 13 percent higher than last year. Net income rose 14 percent to $1.2 billion in the quarter.
Morningstar analyst Michael Corty said Disney produced "another solid quarter" particularly with its cable networks business, though revenue was below what some analysts expected. "Disney has so many good things going for it that any weakness in the stock would be a buying opportunity," he said.
Great news for Disney as the dust settles on the news of their latest shopping spree. As the report highlights, Disney has multiple in-flowing streams of money that helped to boost the company earnings over the expected marks.
Congratulations to Disney on its achievements and to the artists and members who create the properties that create those successes!
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