Profit at Disney Soars 50%

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 Go.com 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 Go.com 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.