(RTTNews) - Diversified media and entertainment conglomerate
Walt Disney Co. (DIS: News ) is set to announce its third quarter results, after the bell, Tuesday. Amid resurgence visible in the advertising arena, Wall Street analysts expect the Burbank, California-based creator of 'Micky', 'Donald', 'Goofy' and many other evergreen cartoons characters to post year-over-year increases in its earnings and revenues for the quarter.
Brothers
Walt Disneyand Roy Disney founded the company in 1923 as Disney Brothers Cartoon Studio. In 1929, the company was reincorporated as Walt Disney Productions and it took the current name
Walt DisneyCo. in 1986.
Walt Disney, together with its subsidiaries, operates mainly through five segments such as Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Disney Interactive Media Group. The company owns and operates the ABC broadcast television network; cable television networks such as
Disney Channel, ESPN, and ABC Family; publishing, merchandising, and theater divisions. The company also owns and licenses 11 theme parks around the world.
Walt Disney Motion Pictures Group is currently one of the largest and best-known studios in Hollywood. Mickey Mouse, a well-known
cartooncreation, is the official mascot of the company.
On average, 25 analysts polled by Thomson Reuters project per share earnings of $0.58 for
Walt Disneyin the third quarter. They also look for quarterly revenues of $9.38 billion. Analysts' forecast typically excludes one-time items.
The Dow component had earned $0.52 per share on revenues of $8.60 billion in last year's third quarter.
In the preceding second quarter, the company's profit rose 55%, helped by the box office success of 'Alice in Wonderland' as well as fewer restructuring and impairment charges. Net income for the second quarter was $953 million or $0.48 per share. Revenue increased 6% to $8.58 billion, with all its segments delivering revenue growth.
Mediacompanies have started seeing advertising revenue growth recently since the global financial crisis. MagnaGlobal, the research arm of advertising firm Interpublic Group of Companies Inc. (IPG), recently said that U.S. advertising revenue is expected to grow 3.4% in 2010, including political and Olympic advertising on TV. Excluding those, MagnaGlobal sees a growth of 2.1% in U.S. advertising, marginally higher than its prior forecast of 1.6% growth.
MagnaGlobal also projects that media suppliers will generate advertising revenues of $169.9 billion in 2010. Among various divisions,
television remains the largest ad platform, while local television is doing fairly well. Radio is expected to grow 4.6% in 2010, the firm noted.
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