Business

Disney profits lifted by hit films

Characters from Toy Story 3 at the UK premiere of the film
Image caption Toy Story 3 helped Disney's movie studio stage a turnaround

Entertainment giant Walt Disney has reported a 40% jump in profit thanks to hit movies such as Toy Story 3 and Alice in Wonderland.

Net profit for the three months to 3 July rose to $1.3bn (£820m), from $954m a year ago. Revenues rose 16% to $10bn.

Strong performances at the box office saw its studio entertainment division swing from an operating loss to profit.

Its cable networks unit was boosted by sports channel ESPN which benefited from previously deferred revenues.

But Disney said that profits at its domestic theme parks fell because of higher costs and lower attendance.

Disney shares rose 46 cents to $35.75 in after-hours trading.

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