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BRIEFLY

Company Town Annex

July 30, 1993|From Times Staff and Wire Reports

Disney Profit Up in Latest Quarter: Walt Disney Co. reported 17% higher profit for its fiscal third quarter despite a $30.9-million loss at Euro Disney. Disney earned $259.1 million, or 48 cents per share, in the three months ended June 30, compared to $220.8 million, 41 cents per share, a year earlier. Revenue rose 3% to $1.94 billion from $1.88 billion. The Burbank-based entertainment conglomerate, which owns 49% of the complex near Paris, reported that in the latest quarter, theme park and resorts revenue rose 7% and operating profit increased 17%. Disney attributed the growth partly to added hotel revenue. Movie revenue fell by 10%, while operating profit rose by 1%. The company also restated results for its first quarter ended Dec. 31 to show a loss of more than $111 million, due to changes in accounting methods.

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