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Thursday, Mar 28, 2024

Disney Income Rises By 9 Percent

Revenues were up at The Walt Disney Co. theme parks and consumer products division but down in feature films for the third quarter. The Burbank-based media conglomerate reported a net income of $1.3 billion, or $0.66 per diluted share, on revenues of $9.2 billion for the quarter ending June 30. That is a 9 percent increase from the net income of $1.2 billion, or $0.57 per diluted share, on revenues of $9 billion for the same period in 2007. Studio entertainment was the only business unit showing a decrease in revenues from the third quarter of the previous year. The drop was attributed to a decrease in worldwide box office take as the second installment of the “Chronicles of Narnia” franchise did not do as well as “Pirates of the Caribbean: At World’s End” had done in the third quarter of 2007. The 5 percent increase in revenues at the parks and resorts businesses was helped by higher attendance and spending at the Walt Disney World resort and Disneyland Resort Paris. Shares in Disney closed up at $31.67.

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