Disney 4Q profit in line, revenue misses forecast

LOS ANGELES — Walt Disney Co.’s quarterly net income rose 14 percent, thanks to an uptick in revenue driven by higher spending at theme parks and on cruise ships.

The results were announced Thursday, a week after Disney said it would buy Lucasfilm Ltd. and revive the ‘‘Star Wars’’ franchise with a new trilogy starting in 2015.

Net income in the three months ended Sept. 29 rose to $1.24 billion, or 68 cents per share, from $1.09 billion, or 58 cents, a year earlier.


Revenue rose 3 percent to $10.78 billion.

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The parks and resorts division was helped by the launch of its newest cruise ship, the Disney Fantasy, in March, and the opening of a new section at Disney California Adventure called Cars Land in June.

Movie studio revenue fell as ‘‘Brave’’ failed to perform as well as ‘‘Cars 2’’ a year ago. Revenue at the company’s pay TV and broadcast networks grew a modest 2 percent. Smaller audiences and lower ad revenue at ABC slowed the company’s momentum.

At the same time, ESPN gained more in fees from distributors but saw flat ad revenue as viewers and advertisers turned their attention toward the Olympics on NBC.

The company said losses grew at Hulu, the online video service it owns jointly with News Corp. and Comcast Corp., due to higher programming and marketing costs.

Associated Press