Disney Beats Earnings Forecast By 20 Cents

Walt Disney Co. said Tuesday that first-quarter net income was $2.18 billion, or $1.27 a share, compared with $1.84 billion, or $1.03 a share, for the same period a year ago. Revenue for the Burbank, Calif.-based entertainment giant was $13.4 billion against last year's $12.3 billion. Analysts polled by FactSet had predicted earnings of $1.07 a share. Revenue was expected to reach $12.87 billion. Shares of Disney were up more than 2% at the close.