Disney Reports Record Earnings

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.