DISNEY BACK IN THE BUCKS.Byline: Marla Matzer Rose Staff Writer Theme parks and the hit game show ``Who Wants to Be a Millionaire'' appear to be reversing the fortunes of the Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. after a lackluster 1999. The Burbank-based company on Wednesday reported a 5 percent revenue gain and an 8 percent jump in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the first quarter of fiscal 2000. Excluding the impact of a 72 percent retained interest Retained interest (also colloquially known as a payout penalty) is future, currently unpaid, interest that some lenders add to the remaining principal of a loan to determine a payout figure in the event that the loan is terminated before the completion of the original term. in Go.com, a tracking stock for Disney's Internet holdings, the entertainment giant earned $515 million, or 25 cents a share, for the quarter ended Dec 31. In the prior year's quarter, Disney earned $482 million, or 23 cents a share. Revenues were $6.8 billion, up 5 percent from the like period a year ago. The first-quarter results were in line with figures the company gave last month when it announced a management reorganization and reviewed its earnings report. However, Disney's Internet operations - like many other businesses related to the Internet - continue to lose money, and are expected to continue doing so for the near future. Television and theme parks were the strongest performers for the quarter. Disney's media networks posted a 19 percent gain in revenue, from $2.3 billion to $2.7 billion for the previous first quarter, and a whopping 73 percent increase in operating income. Theme parks and resorts reported record operating results, including a 9 percent increase in revenue - from $1.4 billion to $1.6 billion - and operating income increase of 6 percent. Disney had released preliminary highlights of the quarter's results Jan. 24, when it also promoted ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. network chief Robert Iger Robert A. "Bob" Iger (born February 10 1951) is head of the Walt Disney Company. He has been president since January 2000 and CEO since October 2005. Early Life Iger was born in Oceanside, New York. to second in command after Disney chairman Michael Eisner Michael Dammann Eisner (born March 7, 1942) was CEO of The Walt Disney Company from September 22, 1984 to September 30, 2005. Early life Michael Eisner was born to a wealthy family in Mt. Kisco, New York, and raised on Park Avenue in Manhattan. . ABC contributed strongly to the quarter's results: Revenue from broadcasting was up 13 percent over the same period the previous year. ``Millionaire'' has been a ratings juggernaut, and ad sales for the network reached a record $1 billion. Disney's cable networks, including ESPN ESPN Entertainment and Sports Programming Network and the Disney Channel, fared even better, with a 29 percent increase in revenue for first quarter 2000 vs. first quarter 1999. And income from Disney's equity investments in the Arts & Entertainment, Lifetime and E! Entertainment Television channels soared 47 percent for the quarter year to year. |
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