Walt Disney Co. reported sharply higher profits...

Walt Disney Co. reported sharply higher profits for the latest quarter, citing record results from its theme parks; hit movies such as “The Lion King,” “The Santa Clause,” Miramax’s “Pulp Fiction,” and the home video release of “Snow White and the Seven Dwarfs.” First-quarter earnings for the Burbank entertainment giant jumped 31% to $482.4 million as revenue rose 21% to $3.3 billion.

Filmed entertainment revenue rose 24% to $1.77 billion, with the unit’s operating income jumping 32% to a record $448.2 million.

Disney also recorded income of $27.9 million for the period ended Dec. 31, reflecting a $55-million gain from the sale of 75 million shares in Euro Disney to Saudi Prince Al Waleed ibn Talal ibn Abdulaziz al Saud.