Robert Iger also touts music arm's 'success story'
Apparently teenager Miley Cyrus, the Jonas Brothers and the gang from "High School Musical" are considered "aged" acts around Disney.
No matter, because they're still generating boatloads of revenue, and their success serves as a attracter for younger musical endowment, Disney CEO Robert Iger said Wednesday.
Iger's comments came while discussing Disney's quarterly earnings with Wall Street analysts, unitary of which was interested in the conglomerate's music business, which Iger said "has off into quite an a nice success story."
Disney, though, mixes its music results in with its movie studio numbers, and Iger declined Wednesday to separate them out.
Iger likewise offered some unsolicited advice to SAG, suggesting that a work stoppage would be "unpopular" while inquisitive aloud wherefore SAG leadership should expect a bettor offer than other guilds are acquiring. He added that he did non foresee a "particularly damaging impact" on Disney's business because of stalled talks.
Disney's earnings topped Wall Street estimates, with television and theme parks picking up the slack from a weak studio apartment performance, courtesy of the inability of "The Chronicles of Narnia: Prince Caspian" to compete with net year's "Pirates of the Caribbean: At World's End."
Disney earned $1.28 one thousand million in the quarter, up from $1.18 zillion the same quarter last year, on revenue that grew 2% to $9.24 billion.
Disney shares blush wine 2.4% to $31.67 on Wednesday but gave up the gains in the after-hours session.
Although the studio apartment was the standout trey months ago, this time it was the laggard, posting a 19% knock off in tax income to $1.43 one million million and a 49% absorb in in operation income to $97 million.
But Iger focussed on the positive, noting that "WALL-E" is "the best-reviewed flick of the year" and predicting a good reply to "High School Musical 3: Senior Year," due in theaters Oct. 24, and "Bolt," featuring the voices of Cyrus and John Travolta, scheduled for release Nov. 26.
Disney's biggest sector, media networks, posted an 8% gain in revenue to $4.12 billion and 9% more than operating income at $1.47 one thousand million, with cable system making up for a declining broadcasting business.
Cable, lED by ESPN and the international Disney Channels, grew operating income by 14% to $1.2 1000000000000, while broadcasting lost 11% to a positive $260 million.
Disney blame weak broadcasting results on lower ad sales at the owned TV stations, though tax income at ABC was like to a year ago because of higher advertisement and digital-media revenue offsetting lower ratings.
Parks and resorts, a tight watched segment because it might be vulnerable to a struggling economy and high gasoline prices, continued an impressive run. Revenue in the unit was up 5% to $3.04 one thousand million, and operating income grew 3% to $641 million.
Disney's smallest unit of measurement, consumer products, grew revenue 20% to $642 meg, though operating income fell 4% to $113 zillion, with the acquisition of the Disney Stores in North America contributing to the leap in revenue.
Disney blamed the lower operating income in that segment partly on lower gross revenue of video games. Last year, Disney Interactive Studios had an "At World's End" game, while this year it had games based on "High School Musical" and "Prince Caspian," not to mention higher video game development costs.
