The tough consumer environment took its toll on Walt Disney’s third-quarter earnings, with profits down 25 per cent on lower theme park revenues, falling television advertising income and declining home entertainment sales.
Bob Iger, chief executive, acknowledged the difficult economic conditions but said the company, which owns the ABC television network and ESPN cable channel, had detected signs of “economic stabilisation”. But he added that the “pace and strength of the recovery remain uncertain . . . we are managing accordingly.”
