Disney’s Strong Quarter

The Walt Disney Company (DIS) reported a strong first quarter of 2011, with earnings up 54 percent and revenues hitting $10.7 billion.

That includes strong growth in its media segment, with revenues up 11 percent (thanks much to ad sales at ESPN) and income up 47 percent to $1 billion.

Ad revenues at ABC were down slightly, but overall broadcast income was still up $115 million to nearly $300 million.

ABC was the only major broadcast network to make large staff cuts this year, but with this new news from its parent company, perhaps better news is on the horizon.