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Disney Revenues, Income Off

The Walt Disney Company today reported earnings for fiscal Q3, posting moderate deceases in both revenue and net income.
Disney revenues for the quarter decreased 3% to $5.8 billion and net income sank $364 million (18 cents per share) from $527 million last year. The company suffered a slump across much of its varied businesses, and its Consumer Products Division (which includes Disney Interactive and Disney Store) was not immune. Quarterly revenues in the division dropped by 13% to $457 million, and its operating income fell by 16% to $51 million. The company said that the division was hurt by lower worldwide merchandise licensing revenues and decreases at Disney Interactive due to "weaker performing personal computer CD-ROM and video game titles."

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