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Walt Disney profits rise on theme park, television earnings
Jul 30, 2008, 22:12 GMT
New York - The Walt Disney Company said Wednesday that earnings rose in the third quarter led by profits from its theme parks and cable television networks.
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.
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