The Walt Disney Co
Disney shares jumped more than 4 percent in after-hours electronic trade on Tuesday.
Net income fell to $613 million, or 33 cents per share, from $1.13 billion, or 58 cents per share, in the 2008 second quarter. Excluding restructuring and impairment charges of 10 cents per share, Disney's profit was 43 cents per share.
Revenue fell 8 percent to $8.09 billion, from $8.71 billion in the year-ago quarter, partly as the result of aggressive discounting at its domestic theme parks.
We had a difficult second quarter due to the weak economy and other factors, said Disney President and CEO Robert A. Iger. At the same time, we remain focused on our core business strategy and believe our creativity, brands and businesses will serve us well as the economy recovers.
Analysts, on average, had expected earnings excluding items of 40 cents per share, on revenue of $8.14 billion, according to Reuters Estimates.
Shares of Disney rose nearly 4 percent to $24 in after-hours electronic trade, after closing up 1.3 percent at $23.15 on the New York Stock Exchange.
(Reporting by Gina Keating; Editing by Richard Chang)