Disney fortunes rest on Pirates gamble

Walt Disney, the media giant, beat second-quarter profit forecasts but will depend heavily on the final instalment of the Pirates of the Caribbean film trilogy to drive revenues for the rest of the year.

Net profits rose 27 per cent in the three months to March 31, boosted by strong results from Disney's film studio, advertising sales at ESPN, the sports network, and international sales of its TV shows, including Desperate Housewives.

Revenues were flat. The performance of Disney’s Hollywood studio was boosted by an unexpected hit, the motorcycle road trip adventure Wild Hogs with John Travolta.

Read Full Article from Times Online

- Posted: 2007-05-09 10:02:56

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