DisneyWalt Disney (DIS) reported better than expected earnings Tuesday due to an increase in advertising revenue at its media networks and better ticket sales for its studio hits Iron Man 2 and Toy Story 3.

Disney reported earnings of 67 cents a share on revenues of $10 billion. Wall Street analysts had been expecting Disney to post third-quarter earnings of 58 cents per share. Last year, Disney turned in third-quarter earnings of 51 cents per share on $8.6 billion in revenues.

The company has beat analyst estimates over the past five quarters.

"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 Chief Executive Officer Robert A. Iger in an earnings statement.

Disney's empire includes theme parks, resorts, cruise lines, media networks including ABC, ESPN and motion pictures.

Revenue from its cable networks were up 28% and broadcasting was up 4%. The cable network increase was attributed to previously deferred revenues related to annual programming commitments.
Studio Entertainment revenues for the quarter increased 30% to $1.6 billion.

This year the company's film division released Iron Man 2, which grossed $334 million in global box office sales in its first two weeks. Toy Story 3 and Alice in Wonderland also turned in good results. On the flip side, analyst Doug Creutz of Cowen & Co. said Disney had its share of "hits and misses" and is likely to write-down on Prince of Persia and Sorcerer's Apprentice.

Last week, Disney raised ticket prices at its theme parks as it moves away from discounting during the rough economy. Disney parks and resorts revenues for the quarter increased 3% to $2.8 billion and segment operating income decreased 8% to $477 million. Results for the quarter were weighed down by decreases at domestic parks and the Disney Cruise Line, but that was partially offset by improved results at the company's international operations.

Disney's per share price was up a half-percent to close at $35.30. It is trading slightly below its 52-week high of $37.98

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hi bev

Walt Disney built a park all ages can enjoy. I wonder what he would say if he came back right now to find out what they are charging to get in. (prices just went up again) They will end up pricing themselves right out of business one day. So many people can't afford a vacation this year never mind for a family of 4 to go to Disney is over 300.00 not counting any food you will eat while in there and if its your first time you might want to pick up something to remember your trip. So they can take their profits and stick them because they surely don't understand families at all. By the way, I live 45 minutes away from Disney but am speaking up for all those that would love to take their children there but its become too expensive at the hands of people that are greedy and must make huge profits.

August 13 2010 at 7:17 AM Report abuse rate up rate down Reply
tangilct

I find it very interesting that the two highest earning movies for Disney were not Disney films (developed by subsidaries of Disney, but not a traditional Disney studio film). Great job Paramount and Pixar, you're helping to keep the dying giant Disney affloat (as seen by Disney's major misses - Sorcerer's Apprentice & Prince of Persia).

August 12 2010 at 10:58 AM Report abuse rate up rate down Reply
rabin63

Disney is enjoying 6.40 billion dollars in profit but I read last week they rrised their prices on park tickets where is the justice

August 12 2010 at 9:53 AM Report abuse +1 rate up rate down Reply
Oh Mighty Ruler

I don't understand people who say, "The economy is so bad, everyone should cut us a break." This isn't about making money, as everyone seems to think it is. If they wanted to make more money, they would LOWER prices. But, they are confident in their status, enough to say "We don't need to offer discounts anymore." Don't you guys see that? The discounts brought in all sorts of people that would normally never be able to afford a Disney vacation, but when they made it cheap, people stopped respecting it. Sorry folks, but Disney is not trying to get more customers, they are trying to get less of the bad ones and more of the right ones. I hope they succeed.

August 12 2010 at 9:29 AM Report abuse -1 rate up rate down Reply
1 reply to Oh Mighty Ruler's comment
paulatkinson22

A dollar is a dollar is a dollar. I didn't know that there was a bad dollar. It isn't about making money? If your thought process was correct why wouldn't Disney just make all ultra expensive hotels instead of building their economy ones designed to draw lower income people? In addition, (historically) the very people you say they don't want are the ones that tend to spend the most money in the parks buying all the trinkets and worthless crap. And what is this "respecting" it part? I've been going to WDW since it opened in 1971. There has always been a certain trash element, a middle class element and an upper class element. Just like the real world. Trash won't stop going because they raised ticket prices $4 bucks to make the parks nicer for you. They are corporation all about money. What Disney and it's stock owners want are profits and I am pretty sure they don't care where they come from. Lets see what happens when the profits start to dwindle.

August 12 2010 at 10:46 AM Report abuse +1 rate up rate down Reply
Jan Palero

it gets me that they are making such a big profit but they turn around and increase the cost for their park tickets. I don't know how the average family can afford to take their kids there I know its more then I can afford. seems like they would give back to their guest some of their profit by decreasing the cost of their park tickets

August 12 2010 at 9:29 AM Report abuse +2 rate up rate down Reply
Jeannie

I love Disney but we couldn't afford to go this year even with their "discounted" prices for the rough economy. Give me a break! This has become a money machine that Walt desined for the average American family (who can no longer afford it).
The parks are already over crowded and they are adding more resort rooms - so they can pack in even more. Even I am becoming disallusioned.

August 12 2010 at 8:32 AM Report abuse +1 rate up rate down Reply
Love you Mommy!

Whoever wrote this article is a freakin idiot. Iron Man 2 is a PARAMOUNT film, not a DISNEY film!

August 12 2010 at 7:18 AM Report abuse -1 rate up rate down Reply
3 replies to Love you Mommy!'s comment
BLIZZARD-OF-AHHS

pay more at the gate to go in to their parks to spend more money,wow!,that makes alot of sense!
greedy executive pigs,what a ripp-off!

August 12 2010 at 6:34 AM Report abuse +1 rate up rate down Reply
1 reply to BLIZZARD-OF-AHHS's comment
kleinchris

Maybe the greedy executive pigs- many of whom started out selling corn dogs at Magic Kingdom, are trying to find a few ways not to lay-off a few more kids selling corn dogs at Magic Kindom. Disney will do just fine with this increase, even without you.

August 12 2010 at 8:28 AM Report abuse rate up rate down Reply
Mary

And Disneyworld needed to increase its prices from 2%-7% for adults (10 and over is adult?) and 8%-14% for children why?

August 11 2010 at 12:47 PM Report abuse +1 rate up rate down Reply
1 reply to Mary's comment
Mary

And perhaps not the best way to try to encourage increased attendance in the parks.

August 11 2010 at 12:50 PM Report abuse rate up rate down Reply