11 May 2011

Disney profit down

12:43 pm on 11 May 2011

Walt Disney reports a fall in profits in its second quarter.

The company has been hit by a poor box office performance by its latest blockbuster and the temporary closure of Disney theme parks because of the earthquake in Japan.

However, revenue at Disney's television networks grew due to a rise in TV advertising. Sales of Disney merchandise were also up.

Profit fell by 1% to $US942 million, compared to the same period last year.