9 Feb 2012

Disney profit up

11:45 am on 9 February 2012

Profits at Walt Disney have risen due to the rising popularity of its theme parks and earnings from its television channels. However, revenue in its film business fell.

Disney reported profits between October - December last year of $US1.46 billion, a rise of 12%.

Disney shares fell by 1.3% in after-hours trading in New York.

Revenue overall for the quarter rose by 1% to $US10.8 billion, helped by higher ticket prices and attendance levels at Disney's theme parks.

The company said these revenues were boosted by the opening of Toy Story Land at Hong Kong Disneyland in November.

Disney's television businesses performed solidly, with cable and satellite distributors paying more to carry ESPN sports programming.

Revenue in the film division fell because the studio released fewer films than in previous years.

The Muppets earned more than expected, but the results were still lower when compared to a year earlier when Toy Story 3 was released on DVD.