Walt Disney Co. gains from improved sales of DVDs

Walt Disney Co. has come out with their revenue report and the company seems to have gained a lot from improved sales of DVDs of movies including “Pirates of the Caribbean: Dead Man’s Chest,” “Cars”.

Disney also gained from the sale of a stake in E! Entertainment Television.

The company also impressively posted increased earnings at its media networks.

Disney reported that its net income rose to $1.7 billion, or 79 cents per share, from $734 million, or 37 cents per share in last year’s first quarter.

The revenues were up 10 percent to $9.7 billion. They easily managed to beat the market expectations on both these figures.

David Miller, an analyst at Sanders Morris Harris spoke about Disney’s performance in the quarter: “Great, great numbers all the way around. Very strong especially at the studio, although it will be interesting to see if the market gives them credit.”