Film Unit Drags Disney in Q1
Media giant posts modest gains in cable, broadcast nets
By Mike Farrell, Multichannel News -- Broadcasting & Cable, 2/5/2013 4:58:41 PM
Disney reported overall revenue of $11.3 billion in the period ended Dec. 29, up 5% from $10.8 billion in the prior year. Net income for the period fell 6% to $1.38 billion (77 cents per share) and free cash flow declined 46% to $599 million from $1.1 billion a year earlier.
Despite the declines, Disney beat most analysts' expectations for the quarter, reflected in its shares rising 1.7% (93 cents each) to $55.22 each in after-hours trading Tuesday.
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