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Disney's Profits Jump 159%

January 21, 1987|From Reuters

Walt Disney Co.'s profit jumped 159% in the quarter ending Dec. 31, the company reported today, as the stay-at-home American travel trend resulted in big business for the company's Florida and California theme parks.

Net income rose to $89.8 million, or 66 cents a share, from $34.7 million, or 26 cents a share in 1985. Revenues surged 50% to $755.5 million from $504.2 million a year earlier. Disney's film entertainment segment revenues rose 109% to $262.3 million.

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