Profits of Disney boosted by blockbuster films

Toy-Story-3The entertainment firm Walt Disney has seen a 40% rise in its profits because of the hit movies like Alice in Wonderland and Toy Story 3. The firm has reported a net profit of 1.3 billion dollars in the three months till 3rd July from 954 million dollars of a year ago. 

The revenues also rose by 16% and reached to 10 billion dollars. The strong performance of the films at the US box office has taken the firm from loss to sharp profit. The cable networks unit of Walt Disney has been also profited from the sports channel ESPN because of the FIFA World Cup.

The firm Walt Disney is quite satisfied with the results but it has also said that the profits from its domestic theme parks fell down due to the higher costs and reduced number of people.

The shares of Disney also rose in the stock markets; the shares rose by 46 cents and touched 35.75 dollars per share.

All these profits have been possible because of the good performance of the films but Toy Story 3 had the largest impact as it was a 3-D film and attracted too many people in the US.