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Disney Bucks Economy, Sees Net Rise 22% in Q2

Recession, gas prices can't stop entertainment giant's gains
By Jim O'Neill,  Newser Staff
Posted May 7, 2008 7:26 AM CDT

(Newser) – Even rising gas prices couldn’t dent Disney’s second-quarter earnings. The company’s theme park earnings climbed 33%, helping push its overall net up 22% from a year ago, reports the Wall Street Journal. Disney also recorded a 61% jump in earnings from its movie arm and a 14% bump from its media networks. Only consumer product earnings declined, about 14%.

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Movie studio revenue rose 18% to $1.8 billion, and theme park revenue climbed 11% to $2.7 billion. "The parks had an extraordinary quarter when you consider the economic environment," said CEO Robert Iger, who said bookings for the rest of the year were ahead of last year’s pace. (Read more Walt Disney Co. stories.)

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