12 Aug 2010

Jump in profit reported by Disney

12:30 pm on 12 August 2010

Walt Disney has reported a 40% jump in profit due to hit movies such as Toy Story 3 and Alice in Wonderland.

Net profit for the three months to 3 July rose to $US1.3 billion as revenues rose 16% to $US10 billion.

Strong performances at the box office saw Disney's studio entertainment division swing from an operating loss to profit.

Chief executive Bob Iger says Toy Story 3's success bodes well for the company's next feature film, Cars 2.

He also says Disney sees real growth potential in the social gaming sector in the future.

Disney says profits at its theme parks fell because of higher costs and lower attendance.