Disney reports higher third-quarter profit - Reuters, 8/1/07

[Darkbeer]

http://today.reuters.com/news/articl...LTS-URGENT.XML

Walt Disney Co, the No. 2 U.S. entertainment company, reported a higher net profit on Wednesday, driven by strong performances at its television network, parks and consumer products businesses.

Disney, which runs broadcast, movie entertainment, theme parks and consumer products businesses, said its fiscal third quarter net income from continuing operations rose to $1.2 billion, or 58 cents per share from $1.1 billion, or 51 cents per share a year earlier.

Revenue rose 7 percent to $9.045 billion, from $8.47 billion a year ago.

During the quarter, Disney released the hit films "Pirates of the Caribbean: At World's End" and "Ratatouille," finalized the sale of its ABC radio stations, and concluded a probe into backdated stock options at its Pixar Animation Studio.

Disney shares traded between $36.55 and $33.40 during its fiscal third quarter, at a price-to-earnings ratio of 15.8 times estimated fiscal 2008 earnings. Shares of Time Warner Inc traded at 16.5 times estimated 2008 earnings, and Viacom Inc traded at a multiple of 14.7.

The full report in .pdf format can be viewed here.

http://amedia.disney.go.com/investor...ns/2007_q3.pdf

[cellarhound]

It also in the report announced that it purchased Club Penguin, the online virtual world for kids that has 700,000 registerd subscribers for $350 million.

Sorce: Marketwatch

[Darkbeer]

Some Third Quarter numbers from Tom Staggs on the conference call (3Q is April thru June).

WDW attendance was up 4%

Disneyland Resort attendance was basically flat

Disneyland Paris attendance was up 9%

Hong Kong Disney "Attendance is less than we like"

WDW hotel occupancy was 93%

DLR hotel occupancy was 96%