[Park Hopper]

In the wake of Comcast's hostile takeover bid, Disney released its quarterly financial information this morning earlier than expected. As expected, the company reported a big jump in earnings. Here's the text of a story from the Orlando Sentinel:

Disney reports sharp rise in quarterly earnings
OrlandoSentinel Staff
February 11, 2004, 10:04 AM EST

Releasing results earlier today than planned, Walt Disney Co. reported a sharp rise in quarterly earnings as Comcast Corp. launches an unsolicited takeover bid.

Disney said net income rose to $866 million (33 cents per share) in the fiscal first quarter ended in December, from $36 million (2 cents per share) in the year-ago quarter. Excluding the effect of an accounting change, the year-earlier profit was $107 million (5 cents per share).

Revenue rose to $8.55 billion from $7.17 billion.

Earlier today, Comcast launched a surprise proposal to purchase Disney, the media and theme park titan. Under the offer, Comcast would trade $54 billion in stock for a majority interest in the new company. Comcast would also assume Disney's $11.9 billion in debt, the Associated Press reported.