Tags: US | Earns | Disney

'Alice' Helps Disney Profit to Skyrocket 55 Percent

Tuesday, 11 May 2010 04:54 PM

The Walt Disney Co. said Tuesday that its earnings in the latest quarter jumped 55 percent on strong box office returns for "Alice in Wonderland."

Disney's earnings offer a partial reading on consumer sentiment. Its amusement parks and movie releases depend on people feeling confident enough to spend their extra cash.

A year ago moviegoers coping with a severe recession largely avoided Disney's "Confessions of a Shopaholic." In the most recent quarter, movie studio profits surged.

Net income for the company came to $953 million, or 48 cents per share, compared with $613 million, or 33 cents per share, from the same quarter a year earlier. Revenue rose 6 percent to $8.6 billion from $8.1 billion.

The results for the fiscal second quarter beat Wall Street forecasts. Analysts expected 46 cents per share on revenue of $8.4 billion.

Shares of Disney, which is based in Burbank, Calif., fell 90 cents, or 2.5 percent, to $34.86 in extended trading after the release of results. Earlier, it rose 47 cents, or 1.3 percent, to close Tuesday at $35.76.

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The Walt Disney Co. said Tuesday that its earnings in the latest quarter jumped 55 percent on strong box office returns for Alice in Wonderland. Disney's earnings offer a partial reading on consumer sentiment. Its amusement parks and movie releases depend on people feeling...
US,Earns,Disney
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2010-54-11
Tuesday, 11 May 2010 04:54 PM
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