BUSINESS
11/10/2011 05:14 EST | Updated 01/10/2012 05:12 EST

Disney 4th-quarter net income beats estimates on pay TV channel growth, parks spending

LOS ANGELES, Calif. - Disney's fourth-quarter net income rose 30 per cent, thanks to higher spending by theme park visitors and growth at pay TV operations ESPN and Disney Channel.

Net income at The Walt Disney Co. in the July through September period rose to $1.09 billion, or 58 cents per share. A year ago, Disney posted net income of $835 million, or 43 cents per share, for the same period.

Excluding one-time items, adjusted earnings came to 59 cents per share, beating the 54 cents expected by analysts polled by FactSet.

Revenue rose 7 per cent to $10.43 billion, also beating the $10.37 billion expected by analysts.

Shares were up 10 cents at $34.78 in after-hours trading Thursday.