Walt Disney Co. third-quarter earnings jump 40%

ESPN's World Cup soccer coverage and the strong box-office performance of films including Disney/Pixar Animation Studios' "Toy Story 3" helped buoy Walt Disney Co.'s bottom line in the third quarter.

The media giant reported a 40% jump in earnings to $1.3 billion, up from $954 million a year earlier. Revenue reached $10 billion for the three-month period ending July 3, an increase of 16% from a year ago.

In a call with analysts, Walt Disney Co. Chief Executive Robert A. Iger highlighted the film studio's summer performance, noting that it released three of the top five films worldwide in "Toy Story 3," Disney's "Alice in Wonderland" and Marvel Entertainment's "Iron Man 2." The three pictures not only were a financial success but also have fueled other businesses such as merchandise sales, he said.

Read Full Article from Los Angeles Times

- Posted: 2010-08-10 22:02:31

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