The Walt Disney Company managed to increase its revenue and profit more than experts had predicted according to financial figures released today for the third quarter.
Based on a strong performance from its cable businesses, revenue for the last quarter was $9.87 billion which is a 4.5% increase. The cable arm posted a 14% increase for itself, making it the most profitable division of the company.
The parks division (including the theme parks, cruise lines, vacation clubs, etc.) saw a 17% revenue drop, but this was less than expected due to the sluggish economy. Experts had predicted a larger loss as travel is down across the board.
Overall earnings was enough to show a $.46 profit per share beating out last years same quarter profit results by $.02 a share.