June 1, 2012 – Flexing its muscle as a media powerhouse, Disney has once again taken the No 1 spot in SNL Kagan’s rankings of the top 25 media and entertainment companies based on revenue and profits in the first quarter.
The company’s net income for the quarter was $1.23 billion, up 21.4% from the first three months of 2011. Disney’s operating revenue totaled $9.63 billion, representing a 6.1% improvement.
The strong results were driven by the company’s cable nets and teme park dominance rather than the studio side, however.
“Though not obvious at first, the movie John Carter is really a testament to Walt Disney Co.’s strength,” said researchers. “After all, not every company can release a monstrous flop, write off a $200 million loss on the film and still remain the most profitable corporation in the media and entertainment industry. But Disney somehow managed it.”
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