Disney Quarter Earnings Spike

    In this Feb. 6, 2012 photo, The Disney Soda Fountain & Studio Store marquee is seen on Hollywood Boulevard in Los Angeles. Walt Disney Co. releases quarterly financial earnings Tuesday, Feb. 7, 2012, after the market close. (AP Photo/Damian Dovarganes)

    Damian Dovarganes / AP Photos

    John Carter may have had audiences groaning, but Disney has proved it will survive after the company posted second quarter earnings of $1.1 billion Tuesday. Revenues for the Walt Disney Co., which owns theme parks and TV properties in addition to its studio holdings, jumped 6 percent to $9.6 billion over the same period. Martian sci-fi flop John Carter cost the studio $250 million to make and led to operating losses of $84 million. Some of that wasted cash may be made up by the roaring success of The Avengers, which hit theaters this past week and set a new record for an opening weekend, raking in $207.4 million at the box office.

    Read it at Reuters