Net income rose from $760 million (a year earlier) to $895 million, said the company on Thursday in a statement.
Disney’s theme parks have not been doing so well during the recession period.
Chief Executive Officer Robert Iger said, “As the numbers indicate, the studio had an extremely disappointing year in 2009. We see challenges to the film business model that must be addressed.”
Jump in fees for Disney channels
Disney’s shares have gained 28 percent this year but on Thursday its shares fell by 24 cents on the New York Stock Exchange.
Its television division ESPN reported a jump in fees to $128 million from a year earlier. Revenue and profits increased by 14 percent and 26 percent respectively, for channels Disney and ABC.
The theme parks booked a 17 percent drop in profits and a 4.2 percent drop in revenue. Disneyland offered bargains and discounts to tourists ending the price raise it did in August.
Last week, the Chinese government approved a theme park in Shanghai, which could be a great source of profits and foreign investments for Disney in the future.
"We will continue to gauge the market and use promotions when we feel it's appropriate," said Tom Staggs, the newly appointed chairman for theme parks.
Change of ownership
Last month the company announced that Disney Channel President Rich Ross would be replaced by company veteran Dick Cook. On Thursday, it announced that current chairman of Disney parks, Jay Rasulo, would swap positions with CFO Tom Staggs.
"I didn't give Tom a multiple choice in terms of where he was going to go, and I made both Tom and Jay offers that I felt they couldn't refuse," said Iger during a conference call with analysts.
"I also had the benefit with Tom and Jay of two executives that I thought would thrive in their new positions, and they were also both very right from a timing perspective to make this move having been in their current positions for quite a long period of time," said the 58-year-old Iger.
On the company's conference call, Iger said Staggs has played a large role in the acquisition of Pixar Animation Studios with Marvel Entertainment Inc.
He also acknowledged Rasulo’s looking after the Disney's California Adventure in Anaheim and Hong Kong Disneyland.
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