News Broadcasting
Walt Disney’s Q3 net rises on TV, films and theme parks
MUMBAI: Media conglomerate Walt Disney reported a higher quarterly profit from strong performances by its television, films and theme parks businesses.
The company’s fiscal third quarter net income rose to $1.13 billion, from $811 million last year. Its total revenue increased 12 per cent to $8.6 billion.
“Disney’s strong third-quarter financial results demonstrate the company’s unique ability to leverage great content across our many businesses. In recent months, we have released such highly successful creative product as Cars, High School Musical and Pirates of the Caribbean: Dead Man’s Chest, all of which are having a positive impact throughout our company, from merchandise sales to the internet to home video to our theme parks By investing in our pre-eminent core brands and adopting new platforms to enhance the entertainment experience, we intend to deliver our content to more people, more often, in more places, and thereby also deliver long-term growth to our shareholders,” said Walt Disney CEO Robert Iger.
The revenues of the Media Networks division of the company for the quarter increased 10 per cent to $ 3.7 billion and segment operating income increased five per cent to $1.2 billion. The growth in segment operating income was due to improved performance at Cable Networks, partially offset by a decline at Broadcasting.
The operating income at Cable Networks increased $130 million to $ 969 million for the quarter primarily due to growth at ESPN. The increase at ESPN was driven by higher affiliate revenues from contractual rate increases, increased recognition of previously deferred revenues from higher ratings. During the quarter, ESPN recognised $ 106 million of previously deferred programming commitment revenues compares to $ 42 million in the prior-year quarter driven by new programming commitment provisions in affiliate contracts. The revenue increases at ESPN were partially offset by higher programming expenses, due to the new Major League Baseball rights agreement and increased costs associated with ESPN branded mobile phone services.
Disney’s operating incomes at Broadcasting decreased $ 70 million to $ 183 million due to higher programming expenses at the ABC Television Network, the increased number of costs of pilot productions and costs associated with the launch of Disney branded mobile phone service, partially offset by increased revenue due to higher advertising rates at the BC Television Network.
Parks and Resorts revenues increased 11 per cent to $ 2.7 billion and segment operating income grew 26 per cent to $ 549 million due to increases at both its domestic resorts and at Disneyland Resort Paris.
Studio Entertainment revenues increased 17 per cent to $ 1.7 billion and segment operating income increased $ 284 million to $ 240 million.
On the other hand, Consumer Products revenues increased sic per cent to $ 445 million and segment operating income increased 69 per cent to $ 105 million.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
