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DISNEY CREDITS ABC TV AD SALES FOR 48% RISE IN Q3 EARNINGS

News, 04 August 2000


Strong advertising sales at the ABC Television network are credited for a forty-eight percent rise in third quarter earnings by the Walt Disney Company. In particular, soaring ad revenues are attributed to the hit gameshow Who Wants To Be A Millionaire?

Outstripping Wall Street expectations by a fair margin, Burbank-based Disney posted net profits (excluding internet subsidiary Go.com) of $633 million, up 48% from $427m year-on-year. Revenue for the period rose to $5.96 billion from $5.49bn

The picture was less – er – Disneyfied if the performance of Go.com is included in the figures, depressing group net income to $440 million, or 21 cents a diluted share. Go.com is in process of being rebranded Walt Disney Internet Group.

News source: New York Times