Walt Disney’s Profits Fall

Walt Disney Co. has not managed to avoid being ravaged by the recession, as the global media giant had posted a third-quarter profit drop of 26 percent. Thanks to the recession, less and less people are able to visit Disney’s massively popular theme parks and fewer advertisers are able to spend money.
 
Due to Disney’s significant drop in profits, the company’s film studio has posted a loss for the third quarter, while the main company’s net income has fallen to $954 million from $1.28 billion a year earlier. Sales also declined 7 percent to $8.6 billion, significantly missing the $8.81 billion …read more