Walt Disney profits rise on theme park, television earnings
The Walt Disney Company said Wednesday that earnings rose in the third quarter led by profits from its theme parks and cable television networks, the dpa reported.
Net profits rose 9 per cent to 1.3 billion dollars, or 66 cents per share, including one-time profits, from 1.2 billion, or 58 cents per share, in the year-earlier period. Nearly half the profit came from the purchase and sale of subsidiaries, including the acquisition of Disney Stores North America and the sale of movie.com.
Revenue rose 2 per cent to 9.2 billion dollars, the Burbank, California-based firm said.
Revenue fell 19 per cent in the entertainment giant's film division as the studio produced fewer box-office hits. Its broadcast television division saw profits fall 11 per cent to 260 million dollars amid a Hollywood writers strike.
Internationally, Disney gained from a weaker dollar.