LOS ANGELES (Reuters) - Media giant Walt Disney Co reported an increase in profit that beat Wall Street expectations, boosted by higher attendance at theme parks and the movie box office success of "Oz the Great and Powerful."
Net income increased 32 percent from a year earlier to $1.5 billion for January through March, Disney said on Tuesday. Adjusted earnings per share rose 36 percent to 79 cents, beating Wall Street expectations of 77 cents, according to Thomson Reuters I/B/E/S.
Revenue increased 10 percent to $10.6 billion. At the parks division, revenue gained 14 percent and operating income climbed 73 percent.
"Their parks were substantially better than expected," said Gabelli & Co analyst Brett Harriss.
Shares of the company that operates cable channels, a movie studio and theme parks were flat at $66.17 in after-hours trading.
(Reporting by Lisa Richwine and Liana Baker; Editing by Bernard Orr)