Disney 1st-quarter earnings, revenue boosted by ‘Frozen’ movie, ‘Infinity’ game

By The Associated Press
February 05 2014 01:35 PM

CP27088827 — In this Friday, Jan. 31, 2014, photo, a Minnie Mouse character plays piano in a Disney Store display window in Saugus, Mass. Walt Disney Co. reports quarterly financial results after the market closes on Wednesday, Feb. 5, 2014. (AP Photo/Elise Amendola)

LOS ANGELES, Calif. – The Walt Disney Co. posted earnings and revenue for the holiday quarter that beat Wall Street’s expectations, helped by movie hits like “Frozen” and sales of its “Disney Infinity” console game.

Net income in the fiscal first quarter through Dec. 28 rose to $1.84 billion, or $1.03 per share, from $1.38 billion, or 77 cents per share, a year ago.

Excluding restructuring charges and other items, adjusted earnings came to $1.04 per share, beating the 92 cents expected by analysts polled by FactSet.

Revenue rose 9 per cent to $12.31 billion, beating the $12.25 billion expected by analysts.

Shares rose $1.21, or 1.7 per cent, to $72.97 in after-hours trading Wednesday, after already gaining 71 cents to close at $71.76 in the regular session.

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