Los Angeles - Entertainment conglomerate Disney posted an 18 per cent rise in fourth-quarter profit Thursday as strong performances at its ESPN sports networks and other cable channels offset declines at its theme parks and in DVD and film revenues. The company said that it earned 895 million dollars in the quarter, up from 740 million dollars a year earlier. Revenue climbed 4.5 per cent to 9.87 billion dollars.
The company seemed to have turned the corner on the advertising slump as profit at its ABC broadcast network and cable stations, including ESPN and the Disney Channel, climbed 26 per cent on a 14- per-cent gain in revenue. Together with a 19-per-cent rise in the company's other cable TV profits, this was enough to offset a 17-per- cent drop in profit at Disney's theme parks and a 13-million-dollar operating loss at the company's studio entertainment division.
"Although last year was a difficult one, I am pleased with the way our businesses have responded to the downturn," Disney chief Robert Iger said.
