Disney Profits Up Despite Dip in Park Attendance
Friday, November 13, 2009
By: Tom Parkinson

The Walt Disney Company announced 4th quarter profits were up 18 percent this year, beating the expectations of Wall Street Analysts. Overall revenue was up 4 percent to nearly $10 billion dollars. The final quarter of Disney's fiscal year contained one additional week compared to the 2008 fourth quarter and this helped contribute to the four percent increase in overall revenues for the period. But operating income at Disney's parks and resorts was down 25 percent for the year and 17 percent for the final quarter. Vsitor numbers and guest spending were also down at US parks including Orlando's Walt Disney World. The California-based company said even though profits were down at its theme parks, its overall bottom line was helped by a strong performance from its TV division. That division, which includes cable network ESPN and broadcast network ABC, saw profits profit slip by only 4 percent to $4.8 billion dollars.