The
Walt Disney Co. reported sharply higher first-quarter earnings
today, prompting company Chairman and CEO Michael Eisner to
express confidence that Disney will achieve 30 percent earnings
growth this year.
The company -- reporting first-quarter
revenues of $8.549 billion, compared to $7.170 billion during last
year's first quarter -- said in a statement that it had achieved
earnings growth in all its operating segments.
Diluted earnings per share for the first fiscal quarter ended
Dec. 31 were 33 cents, up from 5 cents during last year's first
quarter before the cumulative effect of an accounting change.
"The tremendous results of our first quarter dramatically
demonstrate the fundamental value and potential of this
company...," Eisner said.
Eisner said there was growth in all the company's business
segments.
"Clearly, these great results increase our confidence that we
will deliver earnings growth from our continuing operations of
more than 30 percent in 2004," he said.
"Given the strength of our brands and other assets and the
strategies we have in place, as we look out several years beyond
2004, we are targeting double digit compound growth in our
earnings through at least 2007."
NOTE: The Walt Disney Company is the parent
company of KABC-TV.
