EARNINGS at the entertainment conglomerate, Walt Disney, rose 28 per cent in the latest quarter, the first full quarter reflecting its $19 billion (£11.7 million) acquisition of Capital Cities/ABC Inc, the company said yesterday.

Net income grew to $406 million in its third fiscal quarter which ended on June 30th, up from $318 million in the 1995 quarter. Earnings per share were 59 cents against 60 cents. Company revenues soared to $5.09 billion from $2.77 billion.

The results reflect the combined results of Disney and Capital Cities from the effective date of the acquisition on February 9th, 1996, the company said.