Disney Q1 Weaker Than Expected
February 3, 2009 at 3:21 PM (PT)
The WALT DISNEY CO.'s first fiscal quarter net income slid 32% to $845 million (45 cents/share) on total revenues that were off 8% to $9.6 billion. The figures fell short of analysts' consensus predictions of 51 cents/share of income and $10.07 billion in revenue.
Media Network division revenues fell 5% to $3.9 billion, with broadcasting operating income off 60% to $138 million, blamed on falling ad revenues at the TV network and O&O TV stations and a bad debt charge.
The company does not break out figures for its radio operations, ESPN RADIO and RADIO DISNEY.