Disney's streamlined film strategy is starting to pay off.
The conglom reported stellar fiscal second-quarter results propelled by the studio division and surprisingly healthy theme-park numbers. Operating profit from all segments rose 21%, and revenue increased 10% over the year-earlier period. Income from continuing operations increased 22% to $1.1 billion.
Of total revenue of $8.7 billion in the quarter ended March 29, $2.4 billion was recorded as operating profit by the conglom's four units. Only consumer products saw operating profit decline, off 14% despite a 10% rise in revenue.
Although Disney has recently emphasized the company's efforts in growing its consumer products biz, cruise lines and other non-Hollywood operations, it was the core business of movies and television that burnished the Mouse's earnings report.
Studio entertainment profit soared 61% to $377 million, due partly to favorable comparisons with the year-earlier period, when it ran up a hefty marketing and distribution tab for March 2007 release "Meet the Robinsons." Also in the quarter came a surprising B.O. showing for the studio's "Hannah Montana/Miley Cyrus: Best of Both Worlds" concert pic.