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Walt Disney Co. reported sharply higher profits...

From Times Staff and Wire Reports

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.


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