Walt Disney Co. Profits Rise 18 Percent in Fourth Quarter

MarketWatch.com and The Wall Street Journal are reporting that Walt Disney Co. enjoyed an incredibly successful fourth quarter profit of 18 percent. The company reportedly earned 47 cents per share, which is the equivalent of an $895 profit, in the fourth quarter of 2009. Total profits rose by 18 percent in comparison to the 40 cents per share, or $760 million, that Walt Disney Co. earned in the fourth quarter of 2008.

Walt Disney Co. President and CEO Robert Iger expressed his exhilaration with his company's ability to adapt to the state of the economy and remain profitable, saying, "We've stayed focused on our long-term strategy, efficiently managed costs, and continued to invest in initiatives to deliver future growth."

The Wall Street Journal is reporting that the company was negatively affected financially in several crucial areas including a drastic advertising reduction, mediocre DVD sales, lower than expected attendance at Disney theme parks and underwhelming results in theatres for the Disney films that have been released.

However, Disney benefitted substantially from bold moves such as the $4 billion purchase of Marvel Entertainment Inc. and the overwhelming success of Walt Disney Co.'s media networks division, specifically ABC and ESPN. The Wall Street Journal is reporting that Walt Disney Co.'s total revenue increased to $9.87 billion.