Disney profit rises 12% on ESPN, theme parks

BURBANK, Calif. -- Walt Disney Co. said Tuesday that its fiscal first-quarter profit rose 12 percent due to higher fees paid to its ESPN cable network and improved results at its US theme parks and resorts.

The company said it earned $1.46 billion, or 80 cents a share, in the period ended Dec. 31, compared with a profit of $1.3 billion, or 68 cents a share, in the same period a year earlier.

Revenue rose one percent to $10.78 billion.

The entertainment giant was expected to post profit of 75 cents a share on revenue of $11.19 billion, according to a consensus poll of analysts by Thomson Reuters.

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