Who is not ready for the film and television industries to get revolutionized anytime soon? Disney, that’s who.
The media conglomerate reported a 24 percent second-quarter profit increase to $1.83 billion Tuesday, driven by strong cable and broadcast ad sales, affiliate fees, licensed Avengers toy purchases and theme park attendance.
Revenue for the Burbank, Calif.-based company was up 4 percent to $11.08 billion in the quarter.
Driven by the powerful ESPN cable channel and the ABC broadcast network, Disney’s media networks division saw a 3 percent spike in revenue to $5.08 billion, with operating income increasing 2 percent to $2.12 billion
Revenue from parks and resorts was up 9 percent to $3.44 billion, with a earthquake-induced shutdown of the company’s Tokyo theme park last year making Q2 2012 compare favorably.
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Even with the $1.64 billion theatrical performance of superhero movie The Avengers, revenue was flat in the quarter for Disney’s studio entertainment division. But operating income increased from $264 million to $313 million during the period, with the studio managing production costs on its films better these days.
Operating income in Disney’s consumer products division was also up 35 perent to $209 million.
Losses in the company’s interactive unit, meanwhile, narrowed 51 percent to $42 million, with Q2 comparing favorably with a 2011 quarter that saw Disney buy social game maker Playdom for $743 million.