Disney 2Q profit beats forecasts - 13 WTHR Indianapolis

Disney 2Q profit beats forecasts

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LOS ANGELES -

Disney says its second-quarter net income grew 21 percent as better performance from pay TV network ESPN and its theme parks offset a loss at the movie studio. It reports a profit of more than $1.1 billion, or 63 cents a share.

Excluding a gain related to its acquiring a controlling stake in Indian media company UTV and other charges, adjusted earnings came to 58 cents per share. Analysts were looking for a gain of 55 cents a share.

Revenue at The Walt Disney Co. rose 6 percent, also exceeding forecasts.

Disney shares rose 2 percent in after-hours trading.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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