Walt Disney Company is warning that profits this year will be lower than previously forecast.
The media giant believes earnings per share growth for 2003 will be “more moderate” than the predictions of 25% to 35% made at the start of the year. Analysts are guesstimating 22%.
Disney said it had based its previous forecast on growth in the US economy and rising tourism. Both have since faltered, with falling advance bookings at its theme parks and weak sales at its stores.
Data sourced from: Financial Times; additional content by WARC staff