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Disney Posts Earnings, Revenue Gains

Walt Disney's third-quarter earnings are up due to strong growth in revenues across all of its segments.

BURBANK, Calif. (


) --

Walt Disney

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saw earnings rise during the third quarter due to strong growth in revenue in each of the company's segments.

For the three months ended July 3, the company saw earnings rise 39.5% to $1.33 billion, or 67 cents per diluted share, compared with earnings of $954 million, or 51 cents per diluted share, in the same period a year ago. Earnings excluding special items came in at 68 cents per share, well ahead of analyst estimates of 58 cents.

Revenue was up 16.4% to $10 billion from $8.6 billion during the quarter, primarily due to the revenue growth in its media networks segment, which was up 19% to $4.73 billion from $3.96 billion.

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"We're very pleased with our strong third quarter, in which we grew revenues substantially and improved profitability across the majority of our businesses," said president and CEO Robert A. Iger. "Our performance underscores the value of sticking to a smart strategy even in tough times, of investing in the right people, and of focusing relentlessly on quality and innovation to drive growth in shareholder value."

For the nine months ended July 3, earnings increased 29.7% to $3.13 billion, or $1.60 per share, compared with earnings of $2.41 billion, or $1.29 a share, in the same period a year ago.

Revenue rose 7.8% to $28.32 billion from $26.28 billion.

-- Reported by Theresa McCabe in Boston.

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