The Walt Disney Co. reported a 9 percent increase in profits on a slight increase in earnings for its first fiscal quarter of 2010.
The report for the quarter, which ended Jan. 2, showed revenues were up about 7 percent at the company’s media networks, offsetting flat earnings at resorts and parks and slight declines of 1 percent for studio entertainment and 3 percent for consumer products.
Media networks posting an 11 percent improvement in profits and studio entertainment a 30 percent gain.
‘We are pleased with our first quarter results and are excited about our creative pipeline, from upcoming movies like Alice in Wonderland and Toy Story 3 to new attractions at our Parks and Resorts,’ said Robert A. Iger, president and CEO, The Walt Disney Company. ‘Our unique ability to deliver outstanding experiences to consumers across platforms, markets and businesses gives us a strong competitive advantage and positions us well for long-term growth.’
