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Disney Results Up, But Games Divison Continues To Hurt

Disney reported its earnings for Q4 today, showing a strong 15% uptick in revenues during the quarter to $6.66 billion, and net income up 18% to $222 million (11 cents per share).
The company's performance was largely driven by its motion picture business, with strong revenues from "Signs", "Lilo and Stitch", and "Sweet Home Alabama". However, the company's consumer products division (its smallest operating group, which houses its videogame business) did not fare well. Disney's CEO, Michael Eisner, said that division was hurt by lower licensing revenues and down sales of Disney Interactive's CD-ROM and game titles. Revenues from the consumer products revenues for the year decreased 7% to $2.4 billion, and that segment's operating income decreased 6% to $394 million. In Q4, revenues for the consumer products division decreased 8% to $569 million while its operating income decreased 8% to $82 million. Despite the company's overall performance, its shares fell in early morning trading today as analysts downgraded the stock based on the opinion that its theme park attendance will decline and higher sports broadcasting fees from the NFL and NBA will hurt the company's cable TV division.

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