Disney Hikes Profit Forecasts

15 April 2004

In its latest bid to placate disgruntled shareholders, Walt Disney Company has raised earnings guidance for its fiscal 2004.

The media mammoth now expects profits from continuing operations to rise more than 40%, up from its previous prediction of growth of at least 30%.

The announcement may be timed to head off criticism of the company after its latest big-budget movie release, The Alamo, flopped in its opening weekend.

Disney said its revised prediction reflected "the performance we're seeing in our businesses" and assumed "a continuation of the favorable economic conditions and trends we're seeing."

Data sourced from: The Wall Street Journal Online; additional content by WARC staff