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Disney profit more than doubles to 415 million dollars
Los Angeles, Nov 21: Walt Disney Co. said its most recent quarterly profit jumped to 415 million dollars, more than double the 175 million a year ago as cinema and media earnings offset declines at theme parks.
Los Angeles, Nov 21: Walt Disney Co. said its most recent quarterly profit jumped to 415 million dollars, more than double the 175 million a year ago as cinema
and media earnings offset declines at theme parks.
The media-entertainment giant topped Wall Street forecasts with earnings for the fiscal fourth quarter to September 30 amounting to 20 cents per share compared with an average estimate of 15 cents.
Disney's overall sales for the quarter were just over seven billion dollars from last year's figure of 6.6 billion. The company yesterday said its results were led by strong gains from its Hollywood Studio Films and its media networks including the ABC Television Network, along with increases in consumer product sales. That offset some declines in Disney Theme Parks and Resorts.
"Disney's strong performance in the quarter, driven by the studios and media networks (units) and the substantial improvement in our overall results during a difficult year provide further evidence that we have established the foundation for future growth," said Michael Eisner, chairman and chief executive. For the 2003 fiscal year that ended September 30, the company's profit was up 2.5 percent to 1.27 billion dollars while revenues grew 6.8 percent to 27.06 billion.
Bureau Report
Disney's overall sales for the quarter were just over seven billion dollars from last year's figure of 6.6 billion. The company yesterday said its results were led by strong gains from its Hollywood Studio Films and its media networks including the ABC Television Network, along with increases in consumer product sales. That offset some declines in Disney Theme Parks and Resorts.
"Disney's strong performance in the quarter, driven by the studios and media networks (units) and the substantial improvement in our overall results during a difficult year provide further evidence that we have established the foundation for future growth," said Michael Eisner, chairman and chief executive. For the 2003 fiscal year that ended September 30, the company's profit was up 2.5 percent to 1.27 billion dollars while revenues grew 6.8 percent to 27.06 billion.
Bureau Report