Disney profits boosted by advertising revenue

Toy Story 3 helped Disney to boost profits at its movie studio

Entertainment giant Walt Disney has reported a sharp rise in profits thanks to increased advertising revenue and the popularity of its theme parks.

Net profit for the final three months of last year came in at $1.3bn (£810m), up more than 50% compared with the $844m the company made a year earlier. Revenue rose by 10% to $10.7bn.

"It's a great start to a new fiscal year," said Disney boss Robert Iger.

Disney shares rose 3% in after-hours trading following the announcement.

Film success

The company reported strong results across most of its major business divisions.

Revenue at Disney's media networks, which include ABC and ESPN, rose 11% to $4.6bn, while operating profit rose by almost a half to $1.1bn.

The group's parks and resorts pulled in $2.9bn in revenue, with operating profits hitting $468m.

Movie studio revenue was flat, but profits rose by more than a half to $375m, thanks in part to the success of Toy Story 3.

The group's interactive media division, however, posted a loss of $13m.