WALT DISNEY said today the media and entertainment conglomerate was seeing signs that the US economy was stabilising.
"We do see signs of economic stabilisation, but the pace and strength of recovery remain uncertain, and we are managing accordingly," chief executive Robert Iger said during a conference call with analysts after the company reported that fiscal third-quarter revenue fell short of analysts' expectations.
Mr Iger added that the company's parks and resorts, which include Walt Disney World Resort, Disney Vacation Club and Disneyland Paris, have "clearly been impacted by the weak economy".
Disney, the largest US media company by market value, is less dependent on advertising dollars than are other media giants, but the recession has nonetheless forced Disney to offer discounts and other promotions to boost attendance at its parks and resorts.
Mr Iger said parks and resorts promotions have been "quite good" for the business, which wouldn't be as strong without them. He declined to be specific about future promotions.
"We're going to be really strategic in terms of the discounting that we're doing," he said.
Chief financial officer Tom Staggs added that, while the company had seen signs of stabilisation in the overall ad market, the local ad market remained soft.