Disney reports 30% profit rise despite fall in film revenues

The Walt Disney Company has reported a 30% year-on-year increase in profits in the three months to 1 October, although revenues from its film business fell back despite blockbusters such as the latest Pirates of the Caribbean movie.

The US media firm's overall results were boosted by a strong advertising revenue performance by sports broadcaster ESPN, while attendance at Disney theme parks also increased.

Disney, which also owns the TV network ABC and Disney children's channels globally, said that net income rose 30% to $1.09bn (£685m) in its fourth quarter. Total revenues for the quarter rose 7% year-on-year to $10.4bn.

Bob Iger, chief executive at Disney, said that the strong results helped the company deliver record full-year revenue, net income and earnings per share.

Read Full Article from The Guardian

- Posted: 2011-11-11 11:55:19

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