Disney announced fiscal Q2 earnings yesterday afternoon, and it was a blockbuster: a 6 percent year-over-year increase in revenue to $9.63 billion, a 21 percent gain in earnings to $1.143 billion and an EPS beat.
The stock is up 2 percent today and 20 percent since the beginning of the year.
Diving into the numbers, it appears they have a specific group of individuals it can thank for its boffo numbers: Athletes.
According to its 10-Q filing for the quarter ended March 31, cable networks comprised a full third of the period's revenues.
In its initial discussion, Disney management clarifies:
"The increase at Cable Networks included a 16% increase due to higher rates driven by a shift in the timing of the Rose and Fiesta Bowls and certain NBA games, relative to our fiscal period end, at ESPN."
In other words, ESPN/Disney commanded higher rates thanks to the compressed sports schedule caused by the NBA lockout and the fact that New Year's (the traditional date for the Rose Bowl) fell on a Sunday.
We've put together the stars from the games receiving the highest ratings during the quarter.
LaMichael James
Game: Rose Bowl, Monday, Jan. 2
No. of viewers: 17.56 million
Team: Oregon Ducks
Position: Running back
Game stats: 159 yards, 1 TD
Source: ESPN, The Futon Critic
Kevin Durant
Game: Heat-Thunder, Sunday, March 26
No. of viewers: 3.51 million (highest-rated game during fiscal quarter)
Team: Oklahoma City Thunder
Position: Forward
Game stats: 28 points, 9 rebounds, 8 assists
Sources: ESPN, Sports Media Watch
Chris Paul
Game: Heat-Clippers, Wednesday, Jan. 11
No. of viewers: 3.42 million
Team: Los Angeles Clippers
Position: Point guard
Game stats: 27 points, 11 assists
Sources: ESPN, Sports Media Watch
See the rest of the story at Business Insider
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