ANAHEIM-Walt Disney Co. has reported better-than-expected fiscal third-quarter earnings, despite a mediocre performance at its famed theme park here.

The entertainment giant, which is based in Burbank, is one of Orange County’s biggest employers. Disney’s third-quarter net income, excluding its Internet group, rose 50% $633 million, or 30 cents a share, from a year-earlier $427 million, or 30 cents a share. Revenue climbed to $5.96 billion from $5.45 billion.

Net income, including Disney’s interest in Inc. and related amortization, rose 79% to $440 million from $246 million a year earlier. Overall Disney revenue rose 9% to $5.96 billion.

The gains came despite a sluggish performance at its Disneyland theme park. Some families have stayed away from the Anaheim park because surrounding traffic is often a nightmare, thanks to massive construction on the neighboring Interstate 5 and the work that’s being done on Disney’s new California Adventures theme park next door.

Analysts note that while attendance at Disneyland was soft, foot traffic was up at its other amusement parks. But the biggest factor behind the gains was a doubling of profit from Disney’s broadcast operations. Those operations include television network ABC, where the hit quiz show “Who Wants to be a Millionaire?” brought in millions of new advertising revenue.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt. NET LEASE Fall 2023Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.