Higher profit forecasted for Disney

Walt Disney is expected to report higher first-quarter earnings this afternoon.
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Higher revenue at Disney’s broadcast and cable networks will increase Disney’s profits, according to analysts.

The firm is expected to earn 52 cents a share on $10 billion in revenue, according to a survey of analysts by Thomson Financial. This compares with 50 cents a share on $9.73 billion in revenue for its first quarter a year earlier, excluding the gain from sales of interests in E! Entertainment and Us Weekly.

Broadcast TV revenue is expected to increase by seven per cent to $1.75 billion due to higher advertising rates at the ABC network, according to another analyst. This is despite an 11 per cent drop in primetime ratings in the 18-49 category.

Meanwhile, cable network revenue could climb ten per cent to $2.4 billion, also due to stronger advertising rates, the analyst suggests.

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