Walt Disney Company (DIS)

Nine-Month Results

Results for the current-year nine months included the net favorable impact of the items discussed above, which totaled $0.04 per share. Results for the prior-year nine months included the net favorable impact of the items summarized below (amounts in millions, except per share data):

Growth for the nine months was driven by higher operating income at the Media Networks, Parks and Resorts and Consumer Products segments and a decrease in weighted average shares outstanding. Earnings growth at the operating segments was primarily due to increases in affiliate and advertising revenues at our cable businesses, higher attendance and guest spending at Walt Disney World Resort and Disneyland Resort Paris, and strong sales of licensed products at Consumer Products.

Nine-month Results

Revenues for the nine-months increased 6%, or $1.5 billion, to $26.6 billion, net income increased 47% to $3.8 billion, and diluted earnings per share from continuing operations increased 44% to $1.80.

At the operating segments, earnings growth was primarily due to higher affiliate and advertising revenues at our cable businesses, increased sales of ABC Studios productions in international, domestic syndication, and DVD markets, fewer hours of sports programming at the ABC Television Network, higher DVD sales due to the success of Disney/Pixar’s Cars and Pirates of the Caribbean: Dead Man’s Chest and increased guest spending and theme park attendance at Walt Disney World and Disneyland Resort Paris.

Results for the current and prior-year nine months included the net favorable impact of the items summarized in the following tables (amounts in millions, except for per share data):