Posted Tuesday, February 3, 2009 10:55 PM | Contributed by Jeff
For the quarter ended Dec. 27, Disney reported net income of $845 million, or 45 cents a share, a 32 percent decline from $1.25 billion, or 63 cents a share, a year earlier. Revenue fell 8 percent, to $9.6 billion. The company blames a 64% drop in studio income driven by weak DVD sales. Disney said spending at Disney World and Disneyland in the last part of 2008 was flat and spending at the company’s resort hotels was up modestly. Theme park attendance dropped just 5 percent, and they're extending the booking window for its promotional campaign for several months.
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