Business

Theme park spending boosts Disney

Disney characters at Hong Kong Disneyland
Image caption Increased spending at resorts reflected higher prices for tickets, hotels, food and merchandise

Walt Disney has reported a big rise in quarterly profits thanks to increased spending by visitors to its theme parks.

Net income for the three months to the end of September came in at $1.09bn (£684m), up 30% from the same period last year.

Income from theme parks rose 33%, while income from its media networks, which include ABC and ESPN, grew 20%.

For the full year, net income rose 21% from a year earlier to $4.8bn.

Walt Disney shares were the second biggest risers on the Dow Jones index on Thursday, rising 2.5% before the results were released. They rose another 2.5% in after-hours trading.

It was a relatively disappointing year for the studio entertainment segment of the business, which reported an 11% fall in annual income.

The decline was blamed on this year's films such as Cars 2 and the fourth Pirates of the Caribbean film not doing as well as last year's films such as Toy Story 3 and Princess and the Frog.

Disney said the increased spending per visitor to its theme parks reflected higher prices for tickets, hotels, food and merchandise.

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