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Industry: Email Alert RSS FeedVideo helps Disney beat Wall Street.(financial information)(Brief Article)(Statistical Data Included)
Video Business, February, 2001 by Gennusa, Chris
Helped in part by healthy VHS and DVD sales of Toy Story 2 and Gone in 60 Seconds, the Walt Disney Co. experienced higher earnings than analysts expected for the fourth quarter ended Dec. 31. Revenue for the conglomerate increased 7% to $7.3 billion. Not including unprofitable Internet ventures or accounting changes related to film expenses, the company reported a fourth-quarter net income of $594 million up from $518 million net income for the 1999 fourth quarter.
Disney's net income was $63 million with Internet and accounting changes taken into consideration. The studio and theme park were the company's top earners. Studio revenue increased 15% to $1.9 billion. Toy Story 2 also boosted the bottom line at Pixar Animation Studios. The creator of...
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