Explaining Southern California's economy

Disney earnings: This company is all about broadcast and parks

disney disneyland

Photo by KeithJ via Flickr Creative Commons

Sleeping Beauty Castle at Disneyland in Anaheim, California. The Walt Disney Company reported third-quarter earnings today, and parks proved themselves once again to be a revenue leader.

Disney just released earnings for its third fiscal quarter. They beat analysts' expectations in terms of profit, but the company missed on total revenues (although not by much). There's a story within that story, however, that relates to recent trends for the Mighty Mouse.

At about $11 billion, the company's revenue was up 4 percent from the third quarter of 2011 (Wall Street wanted more). Earnings per share were up 31 percent, from to $1.01 in 2012 versus $0.77 in 2011.

A decent quarter, but that's just the beginning of story. If you look at Disney's revenues, you see that stuff like the Disney Channel and ESPN — broadcast — and the parks and resorts business combined accounted for roughly $8.5 billion. That's...77 percent of total revenue for the quarter.

The movie business is at $1.6 billion.