 Pirates has proved a highly valuable franchise for Disney |
Strong DVD sales of the second Pirates of the Caribbean movie have helped media giant Walt Disney more than double its first-quarter profits. Disney saw net income for the three months to 30 December rise to $1.7bn (�863m) from $734m a year ago while revenues increased 10% to $9.7bn.
Its results were boosted by one-off financial gains from the sale of shares in TV and publishing assets.
Disney's fortunes have improved in the past year after a turbulent period.
Successful strategy
Its shares have risen sharply as investors have backed chief executive Robert Iger's focus on strengthening its animation division and aggressively selling its products in overseas markets.
The success of Dead Man's Chest, the second Pirates movie starring Johnny Depp, animated feature Cars and other DVD releases boosted entertainment profits, which rose from $128m to $604m.
Profits from broadcasting and theme parks also rose, with Disney's international channels and sports network ESPN performing strongly.
Mr Iger welcomed the results as a strong start to the year.
"These results are particularly gratifying given the great year we had in 2006 and are another clear sign our strategy is driving growth and creating shareholder value," he said.
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