Disney delights The Street with Q1 earnings Details Joseph O'Halloran | 06 February 2019 As it gets ready for what could be a tumultuous year with the integration of its 21st Century Fox acquisition and the launch of new direct-to-consumer services, The Walt Disney Company has reported better than expected results in its first quarter. For the three-month period ended 29 December 2108, the House of Mouse posted overall revenues of $15.3 billion flat compared with the same period a year earlier. However, even though net income sank 37% to $2.788 billion, this was considerably less than analysts had expected given this current quarter did not have the boost from blockbuster releases that the company benefitted from a year ago. Entertainment segments worked well for the company. Revenue at Media Networks was $5.921 billion, up 7% on an annual basis and segment operating income increased 7% to $1.3 billion. Of these, Cable Networks revenues for the quarter increased 4% to $4.0 billion yet operating income slid 6% to $743 million. Lower operating income was due to a decrease at ESPN and Freeform, partially offset by an increase at the Disney Channels. The decrease at ESPN was due to higher programming costs, partially offset by affiliate revenue growth and an increase in advertising revenue. Disney Broadcasting line revenues for the quarter increased 12% to $1.9 billion and operating income increased 40% to $408 million. The increase was said to be due to affiliate revenue growth, increased advertising revenue and higher programme sales, partially offset by higher programming costs. While much is expected from Disney