The Walt Disney Company reported earnings for its fourth quarter as well as its full fiscal year, and the numbers are looking good.
Net income for the year rose 21% to $4.8 billion, a record, the company said.
But let’s talk about media. Disney’s cable networks, including ESPN, brought in $12.8 billion for the year, a 12 percent increase from 2010. Broadcasting (ABC) saw revenue rise, too, from $5.7 billion to $5.8 billion.
Due to lower costs at ABC and higher ad revenues, though, ABC was able to increase net income by 39 percent, to $913 million.