Q2 results were just reported and Disney said its quarterly profit fell due to a $91 million bad-debt charge on a payment it was due from Lehman Brothers and the combination of higher expenses and less successful films at its studio entertainment division However, the more important thing to note is that they have done really well in their cable networks and theme parks business which is a great thing. That Disney has been able to stabilise its focus on a diverse portfolio of businesses has been becoming clear since 2005. They probably make less mistakes today with their investments because they have learnt about consumer choice and got a few good international partnerships going. It is to everyone's benefit that such megaliths can learn to dance and they can move back into their groove like Disney surely is on the way of doing. They have finally conquered the demons of technology and creative obsolescence and are ready to come out from the shadows if they find a good general. Likely to stay up and high in investor interest as they have the stability of a rock and a solid pipeline of great family shows and even a few good movies.
$23.25 (11/07/08)
