Mickey Mouse still has it.
Four of Disney's five segments posted double-digit gains in operating profit. The lone holdout was the company's recently restructured interactive media department. The family entertainment giant has struggled to steer the gaming division toward profitability.
Media networks remain Disney's best performer, accounting for nearly half of the quarter's $2.2 billion in operating income. Net margins widened substantially at both its ABC-fueled broadcasting arm and the ESPN-led cable division.
Disney's theme parks continue to bounce back, though there was some operating weakness at its cruise line. That's surprising given the encouraging industry news out of Royal Caribbean
Disney's consumer products segment benefited from the inclusion of Marvel, though its studio business clocked in flat on the top line.
Mickey Mouse really needed this quarter. CEO Bob Iger rarely misses on the bottom line, but that's exactly what Disney did three months ago.
An improving economy should help Disney all around from here. The stock's already at a multi-year high, so one can argue that recovery has already been priced into the shares. It's not just a Disney thing. Regional amusement park operators Cedar Fair
We can quibble about the operating losses at Disney's interactive media segment or wonder if Disney's cruise ships can get past last quarter's choppy waters, but Disney's too big to expect it to crank out a perfect quarter.
Last night it delivered a nearly perfect quarter -- and that's good enough for Wall Street.
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