LOS ANGELES (Reuters) - Walt Disney Co. <DIS.N> on Monday posted a 7 percent rise in first-quarter profit as revenue from the new Hong Kong Disneyland theme park and the 50th Anniversary promotion of the original Disneyland made up for movie studio softness.
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"From the standpoint of earnings, (Disney is) clearly outperforming," Rich Greenfield of Pali Research said. "The main place was in theme parks where clearly the 50th anniversary, and the revenues and profits coming in from Asia made a difference in the quarter."
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Parks and resorts profit rose 51 percent to $375 million as Hong Kong Disneyland posted its first full quarter of operations and the Disneyland 50th anniversary promotion spurred business at U.S. parks.
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Source : ABC News