Updated: Disney Reports 32% Profit Dip for First Fiscal Qtr.

Walt Disney Co. on Tuesday reported a 32 percent drop in profit for its first fiscal quarter, as a worsening economy shook the company’s TV, studio and parks units.

Net income toppled to $845 million, or 45 cents a share, compared to $1.25 billion, or 63 cents a share, in the year-ago period. Revenue dropped 8.2 percent to $9.6 billion.

“We faced a challenging first quarter with many of our businesses impacted to various degrees by the economic downturn,” said Robert Iger, Disney’s president and CEO.

Disney’s TV business was particularly disappointing, as operating income at the media networks division tumbled 29 percent to $655 million, on a 5 percent decline in sales ($3.9

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