TV Ads Help Disney Profits Soar

13 November 2006

LOS ANGELES: The Mouse House saw its fiscal fourth quarter profits double from the same period last year thanks to "incredible creativity", according to ceo Robert Iger.

The Walt Disney Company says net profit climbed to $782 million (€697m; £408m), compared with $379m the year before, on the back of good performances from its media networks, movie division and theme parks.

Revenue rose 14% to $8.8 billion, slightly exceeding analysts' expectations.

Media networks' revenue, boosted by higher advertising rates at sports network ESPN and for ABC primetime hits such as Grey's Anatomy and Lost, was up 10%. Operating profit rose by 18% to $883m.

Commented Iger, who took over the top job just over a year ago: "Disney had a spectacular year, posting record revenues, record net income, and record cash flow. It is a result of the incredible creativity at our company."

Data sourced from BBC Online; additional content by WARC staff