MarketWatch First Take
Walt Disney is the media avenger8/7/12 5:24 PM ET (MarketWatch)
NEW YORK (MarketWatch) --
The company generated a profit increase of 24%, thanks to a boost from its theme parks and Marvel action film "The Avengers."
For the three-month period, Disney earned $1.83 billion, or $1.01 cents a share, up from last year when it had a profit of $1.48 billion or 77 cents a share. Revenue jumped to $11.09 billion from $10.68 billion.
Whether the media honchos want to admit it or not, Walt Disney (DIS) seems to be the company that many media industry observers look to for stability in a time of turmoil.
The media's industry's woes are well documented. The companies either didn't plan for the arrival of the digital revolution or they responded too slowly to lead the charge. As a result, much of the industry is still scratching its collective head to try to monetize the new order.
Just call Disney "The Avenger" of the media industry.