Disney says 3Q Profits Jump 9 pct to $1.28 Billion

July 30, 2008 1:57:16 PM PDT
The Walt Disney Co. says its third-quarter profits surged nearly 9 percent thanks to revenue growth at ESPN and strong results from its theme park near Paris, where the weak U.S. dollar was helpful. The family entertainment company said Wednesday that its net profit grew to $1.28 billion in the quarter ending in June, up from $1.18 billion a year ago.

Revenue grew 2 percent to $9.24 billion.

Earnings per share from continuing operations were 66 cents, up from 58 cents a year ago.

The results beat analysts expectations. They forecast 1 percent revenue growth to $9.14 billion and a 5 percent increase in earnings per share to 61 cents, according to a survey by Thomson Financial.