Disney earnings soar on “Frozen,” “Thor: The Dark World” successFebruary 6, 2014 - 12:33 AMT PanARMENIAN.Net - Box office smashes “Frozen” and “Thor: The Dark World” and the juggernaut that is ESPN propelled the Walt Disney Company to sterling earnings for the three months ended Dec. 28, according to TheWrap. The media giant eclipsed Wall Street expectations in every key rubric. Diluted earnings per share for the first quarter of its fiscal year increased 32 percent to $1.04 from 79 cents in the prior-year quarter, while revenues climbed 9 percent to $12.3 billion from $11.3 billion in the year-ago period. Net income increased 33 percent to $1.8 billion. Analysts had predicted diluted earnings of 92 cents and revenue of $12.25 billion. The standout was the company’s studio division, which saw revenues jump 23 percent to $1.9 billion and operating income improve 75 percent to $409 million as audiences embraced the Oscar-nominated “Frozen” and the “Thor” sequel. “Frozen” recently passed “The Lion King” as Disney’s highest-grossing original animated movie. “These results reflect the strength of our unprecedented portfolio of brands, a constant focus on creativity and innovation, and the continued success of our long-term strategy,” Robert Iger, Disney’s chairman and CEO, said in a statement. The two major pillars of Disney’s business — its parks and cable assets — continued to perform. The parks and resorts division climbed 6 percent to $3.6 billion and saw operating income improve 16 percent to $671 million. The company attributed the gains to higher ticket prices and stronger food and merchandise sales. Disney’s media networks division saw revenues improve 4 percent to $5.2 billion, with net income growing 20 percent to $1.5 billion. ESPN was the main driver, Disney said. Related links: Top stories Ara Aivazian said Azerbaijan continues the traditions of Turkey after seizing territories and forced Armenians out. The creative crew of the Public TV had chosen 13-year-old Malena as a participant of this year's contest. She called on others to also suspend their accounts over the companies’ failure to tackle hate speech. Penderecki was known for his film scores, including for William Friedkin’s “The Exorcist”, Stanley Kubrick’s “The Shining”. Partner news | Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. U.S. Assistant Secretary of State to travel to Armenia Assistant Secretary for European and Eurasian Affairs James C. O’Brien will travel to Yerevan on June 10-12. |