Disney suffers massive fall in earnings
Disney has suffered an 82% fall in quarterly earnings.
It predicts a grim start to 2002, due to the impact of the US terror attacks and the economic downturn.
The company has reported quarterly earnings of £43.3m, down from £239m last time.
It says the US terror attacks are leading to fewer visitors at its parks and resorts, but believes things will improve after next summer.
Michael D Eisner, Disney's chairman and chief executive, says it is a particularly challenging time for the company.
"We know that there are certain factors we can control and influence, and others over which we have little to no control," Mr Eisner says.
Disney expects its operating income in the first quarter of 2002 to be "somewhat less than half" that of the same period this year.
The company predicts an improved business climate over the last nine months of 2002, although it still expects like-for-like income over this period to suffer falls of between 10% and 15%.
It says the impact of the September 11 atrocities is likely to be most significant in certain of its Media Networks operations and in its Parks & Resorts division.
