Disney 3Q Net Income Nearly Flat, Revenue Climbs

BURBANK, Calif. (AP) – Disney says earnings for the April-June quarter was nearly unchanged, while revenue increased 4 percent.

The Walt Disney Co. said Tuesday that it earned $1.85 billion, or $1.01 per share, in the fiscal third quarter. That compares with $1.83 billion, or $1.01 per share, a year earlier. Adjusted earnings were $1.03 per share in the latest quarter, surpassing Wall Street’s expectations.

Revenue was $11.6 billion, up from $11.1 billion.

Analysts polled by FactSet expected adjusted earnings of $1.01 per share on revenue of $11.7 billion.

Revenue at Disney’s parks and resorts business grew 7 percent to $3.7 billion. Movie studio revenue fell 2 percent to $1.6 billion due to marketing costs for “The Lone Ranger” and the performance of “Iron Man 3” compared with “The Avengers” in a year earlier.