Disney posts record earnings

WALT Disney Co today posted "spectacular" earnings for its 2006 fiscal year on robust growth across its entertainment and media operations.

Disney's net profit for the final quarter of its fiscal year through September more than doubled to $US782 millon ($1.01 billion), and over the full year rose 33 per cent to $US3.37bn.

The group's quarterly earnings came to US36 cents per share, two cents ahead of Wall Street forecasts.

Revenues increased 14 per cent in the quarter to $US8.78bn, and were up 7.3 per cent over the year at $US34.29bn.

"Disney had a spectacular year, posting record revenues, record net income, and record cash flow,'' company president and chief executive Bob Iger said.

"It is a result of the incredible creativity at our company,'' he said.

Disney's Parks and Resorts division saw revenues rise 10 per cent over the year to $US9.9bn and operating income increased 30 per cent to $US1.5bn.


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