The Walt Disney Company has reported a drop in first-quarter earnings, as strong performance in the group's parks and resorts division failed to offset a decline in its studio entertainment segment.

Group-wide revenues to the quarter ending December 29, 2012, totalled $11.3bn, up five per cent on the prior-year period. Net income dipped six per cent to $1.4bn

Drilling into the company's balance sheet, revenues for the California-based group's key parks and resorts division totalled $3.4bn, up seven per cent on the comparable period in 2011. Operating income rose four per cent to $577m.

According to the company, results for the quarter were driven by growth in domestic operations, partially offset by a drop in international performance.

"Higher operating income at our domestic operations was primarily due to increased guest spending at both Walt Disney World Resort and Disneyland Resort, the addition of the Disney Fantasy cruise ship which launched in March 2012, attendance growth at Disneyland Resort, and higher occupied room nights at Walt Disney World Resort," Disney said.

"Lower results from our international operations reflect higher costs due to new guest offerings and labour cost inflation at Disneyland Paris and start up costs at Shanghai Disney Resort, partially offset by increased guest spending at Hong Kong Disneyland Resort."

Commenting on the results, Disney chairman and CEO, Robert Iger, said: "After delivering another record year of growth in 2012, we're off to a solid start in Fiscal 2013. Our ongoing success is driven by our long-term strategy, the strength of our brands and businesses, and our high quality family entertainment."