Reuters: Global Markets: Disney posts lower Q1, ESPN pays more for programming

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Disney posts lower Q1, ESPN pays more for programming Feb 5th 2013, 21:44 Tweet Share this Email Print Related News Delphi profit better than expected, outlook in line 12:27pm EST Yum's China woes slam sales and profits Mon, Feb 4 2013 Time Warner Cable beats on high-speed data demand Thu, Jan 31 2013 UPDATE 4-Time Warner Cable's outlook disappoints; shares slump Thu, Jan 31 2013 Nickelodeon drags down Viacom but ad sales to improve Thu, Jan 31 2013 Analysis & Opinion 2012 may be as good as it gets for Exxon Related Topics Investing and Taxes Simplified » Hot Stocks » Asian Markets » A portion of the signage at the main gate of The Walt Disney Co. is pictured in Burbank, California May 7, 2012. Credit: Reuters/Fred Prouser LOS ANGELES | Tue Feb 5, 2013 4:44pm EST LOS ANGELES (Reuters) - Media giant Walt Disney Co posted lower earnings on Tuesday, due in part to higher programming costs for its ESPN sports division. Net income fell 6 percent to $1.38 billion from $1.46 billion. Net income per share fell 4 percent to 77 cents a share from 80 cents a share for the company's fiscal first quarter. Revenues rose 5 percent to $11.3 billion from $10.78 billion a year earlier. The company said operating income at its cable networks decreased $15 million to $952 million for the quarter due to a decrease at ESPN, partially offset by growth at its Disney Channel, ABC Family and A&E Television Networks. Overall, Disney's media networks, including ABC, saw revenues increase by 7 percent to $5.1 billion. Segment operating income rose 2 percent to $1.2 billion. The company said its interactive division made money for the first time, swinging to a profit of $9 million from a loss of $28 million. (Reporting by Susan Zeidler; Editing by Leslie Gevirtz) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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