The Walt Disney Co. announced on Tuesday that its net income increased by 54 percent during the fiscal year's first quarter, which ended Jan. 1.
Net income hit 1.3 billion dollars, or 68 cents per share, from 844 million, or 44 cents per share, a year earlier, according to the company based in Burbank near Los Angeles.
Revenue grew 10 percent to 10.7 billion from 9.7 billion a year ago, the company said.
"With net income up 54 percent, it's a great start to a new fiscal year," said Disney President and CEO Robert A. Iger.
The company attributed the increase to rising theme-park attendance and higher television advertising rates.
"We had an excellent first quarter, driven by strong creative content and our unique ability to leverage great entertainment across the many platforms, businesses and markets in which we operate," said Iger.
The increase included 75 million dollars from the sales of businesses, most notably the Miramax production house, the company said in a statement.
Income from its cable networks contributed 227 million dollars, due primarily to higher advertising rates, said the statement.
Revenue from Disney theme parks and resorts jumped 8 percent, driving by increases from domestic and international parks and resorts that helped offset a revenue drop from Disney Cruise Line, according to the statement.
Higher ticket prices and higher food and beverage and merchandise spending also contributed to the theme park increase, the statement said.
