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Up up and away. Disney profits from Toy Story 3
Image: Disney/Pixar
Up up and away. Disney profits from Toy Story 3
Image: Disney/Pixar
PROFITS at Walt Disney have taken a 40% jump thanks to Toy Story 3 and Alice in Wonderland.
Toy Story brought in over $900m, making it Pixar’s most successful film to date, while Alice in Wonderland made over a billion dollars for the studio. Together with Iron Man 2 the films make up three of the top five films of the year.
Disney reported a net profit of $1.3bn up from $854m a year ago while revenues for the firm rose 16% to over €10bn.
The company’s studio entertainment division moved from loss-making last year, to making a sizeable profit this year.
Disney’s US theme parks continued to struggle in an uncertain consumer environment. Hotel occupancy and park attendance were down, compared with the same period last year.
Meanwhile advertising at ESPN, the sports network owned by Disney are up as a result of the World Cup. However, profits were held back by the firm’s acquisition of UK Premiership football matches.
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Earnings per share rose from $0.51 last time to $0.67. The shares were up $0.48 to $35.77 in after market trading.
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