Net income rose 11 percent to $1.48 billion, or 77 cents a share, from $1.33 billion, or 67 cents, a year ago, Burbank, California-based Disney said yesterday in a statement. Profit excluding some items was 78 cents, beating the 73-cent average of 22 analysts’ estimates compiled by Bloomberg.
Cable-network earnings rose 10 percent, with ESPN enjoying gains in fees from pay-TV systems. Theme-park profit advanced 8.8 percent, fueled by higher admission prices at U.S. resorts and this year’s later Easter break. The consumer products unit boosted profit with sales of “Cars” and Marvel merchandise.
But what was more interesting during the conference call with Disney CEO Bob Iger was plan to buy more companies to acquire more characters and stories.
“We don’t have what I’d call a strategic hole,” Chief Executive Officer Robert Iger said yesterday on a conference call after the company’s third-quarter earnings release. “But we’ve looked expansively at opportunities across the world to buy either new characters or businesses that are capable of creating great characters and great stories.”
Iger didn’t specify any targets. He cited international as an area of interest, and India as “another example of a high- growth market. We think investing in it, at least in today’s world, is a smart move,” Iger said.
It's hard to argue with that strategy considering the fact that he knows what he's doing so far and it has seems to work.
Zz.
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