Disney had "an outstanding quarter financially and creatively," according to CEO Robert Iger. Net income for the second quarter in 2008 increased 22 percent to $1.1 billion.
Segment operating income for the quarter increased 21 percent to $2.1 billion, led by strong growth at Media Networks, Studio Entertainment and Parks and Resorts.
Diluted earnings per share (EPS) for the second quarter increased to $0.58, compared to $0.44 in the prior-year quarter. Earnings per share from continuing operations in the prior-year quarter totaled $0.43.
For the six-month period, diluted EPS was $1.21. EPS for the prior-year six-month period, which included gains on sales of interests in E! Entertainment and US WEEKLY, income from the discontinued operations of the ABC Radio business, and an equity-based compensation plan modification charge, which were all recognized in the first quarter of fiscal 2007, were $1.24. Excluding these items, EPS for the six-month period increased 30 percent to $1.21 from $0.93 in the prior-year six months.
"We had an outstanding quarter financially and creatively at The Walt Disney Company," said Iger."This performance demonstrates how 'The Disney Difference' gives us a critical and sustainable market advantage. That difference centers on our proven ability to create high-quality content across our wide-ranging distribution and promotional platforms, allowing us to leverage our hits and grow our company."
