DISNEY PROFITS SURGE `MILLIONAIRE' PACES QUARTERLY INCREASE.Byline: Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writer BURBANK - Riding the popularity of ABC's hit game show ``Who Wants to be a Millionaire?,'' The Walt Disney Co. reported a 66 percent increase in quarterly earnings. Disney reported earnings of $161 million, or 18 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with $97 million, or 13 cents per share, for the same period a year ago. Revenues increased 14 percent to $6.2 billion, from $5.4 billion last year. The earnings figures exclude Disney's interest in GO.com, operated by Disney but publicly traded as a separate tracking stock. ``If I had told you a year ago that an innovative quiz show would be the catalyst for the revitalization of 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. , you would have probably thought I was sprinkling a little too much pixie dust,'' said Disney Chairman Michael Eisner in a conference call with analysts and reporters. ``Who Wants to be a Millionaire?'' is driving more than just the resurgence of a once-struggling television network, however, said analyst Kurt Billick of UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Warburg Securities in San Francisco. It's the linchpin linch·pin or lynch·pin n. 1. A locking pin inserted in the end of a shaft, as in an axle, to prevent a wheel from slipping off. 2. of Disney's fortunes as well. That dependence on one giant success poses risk for investors, Billick said. ``Everything rides on the question what happens to 'Millionaire'? If 'Millionaire' is strong, then I think you're going to see the company continue to perform well,'' Billick said. ``Broadcasting is carrying the company.'' The company's Media Networks division, which includes ABC, showed a 24 percent increase in revenues from levels in the same period last year. Theme parks are a consistent profit center for Disney, Billick said. As the company rolls out four new parks by 2005, that sector is expected to continue to perform well, said Tom Staggs, Disney's chief financial officer. The company's home video and consumer products divisions continued to struggle. Both were targeted for improvement in Eisner's four-point plan outlined in his December letter to shareholders in the company's annual report. ``Like the proverbial battleship, it cannot turn on a dime. Maybe a 50-cent piece,'' Eisner said. Billick said he expects Disney to show a little weakness in its cable properties later in its fiscal year. Cable business costs are expected to increase as the company pays more to Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. and the National Hockey League National Hockey League (NHL) Organization of professional North American ice-hockey teams. The league was formed in 1917 by five Canadian teams; the first U.S. team, the Boston Bruins, was added in 1924. It today consists of 30 teams in two conferences and six divisions. for broadcast rights. |
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