Disney Squeaks By Estimates

Updated from 4:36 p.m. EST

Disney (DIS Quote) says it has yet to feel any ill effects from the U.S. housing downturn on its parks business, which is closely watched as a barometer of consumer confidence.

"So far, we're not seeing any effects from everything that's going on in the economy," said Disney CEO Bob Iger on a conference call with analysts that followed the company's fourth-quarter earnings release Thursday. "People are not giving up their family vacations, particularly to our Disney destinations."

The Burbank, Calif.-based entertainment giant reported a 12% jump in profits for the September quarter, beating expectations on Wall Street. Strength in Disney's media networks division drove the results, and the weak dollar benefited its domestic theme parks as vacationers opted to avoid high prices abroad. ...