Disney beats estimates with 22 percent jump in 2Q profits

The Walt Disney Co. reported a 22 percent jump in second-quarter earnings after the market closed on Tuesday, driven by strong growth in its media networks, studio entertainment and parks and resorts divisions.

In the quarter, the company earned $1.13 billion, or 58 cents a share, beating analyst estimates of 51 cents a share. In the second quarter of 2007, Disney earned $931 million, or 44 cents a share.

Quarterly revenues came in at $8.7 billion, up 10 percent from $7.95 billion a year ago.

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Year-to-date earnings are $2.4 billion, or $1.21 a share, on $19.2 billion in revenue. Through the first six months of fiscal 2007, Disney earned $2.6 billion, or $1.24 a share, on $17.5 billion in revenue.

"This performance demonstrates how The Disney Difference gives us a critical and sustainable market advantage. That difference centers on our proven ability to create high-quality content across our wide-ranging distribution and promotional platforms, allowing us to leverage our hits and grow our company," Disney President and CEO Robert Iger said in a statement.

Disney (NYSE: DIS) is based in Burbank.