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Disney reports record revenue


November 06, 2008 Disney reported record full-year revenue of $37.8 billion on Thursday but forecasted tough times ahead, noting a sudden and dramatic turn for the worse in TV advertising sales and theme park bookings. During a conference call, CEO Bob Iger gave what he acknowledged was a "sobering outlook" and promised cost-cutting. Consumer confidence is the lowest we've seen in over three decades," Iger said, "and even the best product out there is feeling the effect.

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