Disney profits boosted by advertising revenue
- 8 February 2011
- From the section Business
Entertainment giant Walt Disney has reported a sharp rise in profits thanks to increased advertising revenue and the popularity of its theme parks.
Net profit for the final three months of last year came in at $1.3bn (£810m), up more than 50% compared with the $844m the company made a year earlier. Revenue rose by 10% to $10.7bn.
"It's a great start to a new fiscal year," said Disney boss Robert Iger.
Disney shares rose 3% in after-hours trading following the announcement.
The company reported strong results across most of its major business divisions.
Revenue at Disney's media networks, which include ABC and ESPN, rose 11% to $4.6bn, while operating profit rose by almost a half to $1.1bn.
The group's parks and resorts pulled in $2.9bn in revenue, with operating profits hitting $468m.
Movie studio revenue was flat, but profits rose by more than a half to $375m, thanks in part to the success of Toy Story 3.
The group's interactive media division, however, posted a loss of $13m.