Walt Disney posted a rise in quarterly profit last night as soaring media networks profit offset weakness in the travel market.
Burbank, California-based Disney, which also owns the ABC television network, reported a rise in fiscal third-quarter profit to $400 million or 19 cents per share, compared with $364 million or 18 cents per share a year ago.
The company recorded restructuring and impairment charges and a gain on the sale of the Anaheim Angels that offset each other in the quarter.
Revenue rose to $6.2 billion from $5.8 billion a year ago.
Mr Michael Eisner, chief executive and chairman, said in a statement studio operating profit jumped to $71 million from $22 million a year ago, while earnings at theme parks where Disney has heavily promoted vacations to bring in tourists fell to $352 million from $467 million a year ago.
Strength in the advertising market boosted Disney's media networks group, which includes Number 4 broadcast network ABC, ESPN sports programmer and other cable assets. The segment showed a 33 per cent jump in profit to $384 million from $288 million.