Entertainment conglomerate Walt Disney Co posted a 12-per-cent rise in fourth-quarter profits on Thursday thanks to gains at its studio, theme parks and consumer products divisions.
The company posted net income of $1.394 billion for the quarter that ended on September 28, up from $1.244 billion a year earlier. Revenue rose 7 per cent to 11.568 billion in the quarter.
Disney’s movie business was bolstered by the success of Monsters University which grossed $743 million worldwide. Disney’s parks saw a 15 per cent profit gain from a year earlier, as attendance and average spending increased. But it was offset by an 8 per cent drop in the company’s media networks group, which includes ABC and ESPN.