Pirates Boost Mouse House Q4 Profits

09 February 2007

HOLLYWOOD: Soaring home-video sales and a strong performance from its television networks have boosted the Mouse House's fiscal first-quarter earnings, which more than doubled from the same period a year earlier.

The Walt Disney Company reported earnings of $1.7 billion (€1.3bn; £864m) during the quarter ended December 31. During the same period in 2005, the company earned $734 million.

The business recorded a 10% rise Q1 revenue to $9.7bn, driven in part by two big movie and DVD hits with Pirates of the Caribbean: Dead Man's Chest and Cars.

The media networks - which include ABC Television, the ESPN cable sports channel and the Disney children's channels - delivered a 24% rise in operating profit, to $750m, on a strong quarter for the businesses.

Theme parks and resorts operations posted modest returns during the quarter, with year-on-year revenue rising 4%.

Data sourced from Wall Street Journal Online. additional content by WARC staff