skip to main content

Disney beats the Street as earnings jump 71%

Strong sales of DVDs like 'Finding Nemo' and a rebound in theme park visits helped propel Walt Disney earnings 71% higher from a year ago to $537m.

The profit for the quarter to the end of March amounted to 26 cents a share, five cents better than the average Wall Street estimate.

Revenue at the media-entertainment giant was $7.2 billion from last year's $6.5 billion.

The news was positive for embattled Disney chief executive Michael Eisner, who has been battling dissident shareholders blaming him for lacklustre performance.

'Disney is benefiting from the unique strengths of the company's assets as well as the long-term growth strategies we've put in place as we are seeing solid growth in attendance at our theme parks from both domestic and international visitors, in global sales of DVDs and in the financial results of our Media Networks businesses,' he said.