This article was last updated on April 16, 2022
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The Walt Disney Company has reported a 30% year-on-year increase in profits in the three months to 1 October, although revenues from its film business fell back despite blockbusters such as the latest Pirates of the Caribbean movie.
The US media firm’s overall results were boosted by a strong advertising revenue performance by sports broadcaster ESPN, while attendance at Disney theme parks also increased.
Disney, which also owns the TV network ABC and Disney children’s channels globally, said that net income rose 30% to $1.09bn (£685m) in its fourth quarter. Total revenues for the quarter rose 7% year-on-year to $10.4bn.
Bob Iger, chief executive at Disney, said that the strong results helped the company deliver record full-year revenue, net income and earnings per share.
“Fiscal 2011 was a great year financially and strategically, demonstrating the strength of our brands and businesses,” added Iger.
For the year to 1 October revenues rose 7% to $40.9bn, net income grew 21% to $4.8bn, earnings per share grew 24% to $2.52.
The only blot on Disney’s results was the performance of its film studio division, which saw revenues fall 8% year-on-year in the quarter to $1.5bn and 5% for the whole year to $6.4bn.
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