The Walt Disney Company (NYSE:DIS) today reported earnings for the quarter and nine months ended July 2, 2005. Diluted earnings per share (EPS) for the third quarter increased 41% to $0.41, compared to $0.29 in the prior-year quarter. For the nine-month period, EPS was $1.09, up 24% compared to $0.88 recorded in the prior-year period.
"Once again, The Walt Disney Company has posted a quarter of strong earnings growth," said Michael Eisner, Disney's Chief Executive Officer. "Our record third quarter performance is a direct consequence of long-term actions we have taken to position Disney as a global leader in providing quality entertainment, whether on television, on film, on the stage, in theme parks, in consumer products or through emerging technologies, such as the Internet, electronic video games and wireless services. Wherever and whenever people seek entertainment, Disney will be there."
"The third quarter provided a great sampling of the breadth and strength of The Walt Disney Company," said Robert Iger, President, Chief Operating Officer and CEO-elect. "Our largest segment, Media Networks, continued to turn in stellar performance, while Parks and Resorts successfully launched the global celebration of Disneyland's 50th anniversary. Although the studio is facing a challenging environment, we are excited by such upcoming projects as `Flight Plan,' `Chicken Little' and `The Chronicles of Narnia.' Also just ahead is the opening of Hong Kong Disneyland, which will serve as a platform for growth in the world's most populous nation. Looking ahead, we will remain focused on leveraging the strength and reach of our established properties to take advantage of the opportunities proffered by new technologies and market expansion around the world." "