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Disney 2nd-quarter earnings beat expectations, helped by ‘Frozen,’ ‘Thor’ hits from studio
LOS ANGELES, Calif. – Disney posted second-quarter earnings that beat Wall Street forecasts, helped by the blockbuster success of movies like “Frozen” and “Thor: The Dark World.”
Net income in the three months through March jumped 27 per cent to $1.92 billion, or $1.08 per share, from $1.51 billion, or 83 cents per share, in the same period a year ago.
Excluding charges for foreign exchange losses and restructuring, adjusted earnings came to $1.11 per share, beating the 96 cents expected by analysts polled by FactSet.
Revenue grew 10 per cent to $11.65 billion, trumping the $11.25 billion analysts expected.
The Walt Disney Co.’s stock rose $1.47, or 1.8 per cent, to $82.50 in after-hours trading following the earnings release.
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