Disney’s Profit Surpasses Estimates with Big Hits
The quarterly profits of Walt Disney the world's largest media company surpassed the expectations of Wall Street. The great success is attributed to the strong performance of its movie "Captain America", greater turnout at the theme parks in the U. S. and rapid sales of merchandise that are related to its mega-hit movie "Frozen."
On Tuesday the company said, the net income grew to $2.2 billion for the second quarter which ended on June 28. It was a 22 percent increase from the same period one year ago. The diluted earnings reached a record $1.28 per share, crushing the forecasted average which stood at of $1.17 in a Thomson Reuters I/B/E/S survey.
In the afterhours trading the Disney shares grew 15 cents at $86.90 after closing at $86.75 on the New York Stock Exchange.
Disney had two big films which it could bank on this quarter. One of them was Marvel's 'Captain America: The Winter Soldier' and Maleficent said Box Office Mojo.
Another one from Marvel 'Guardians of the Galaxy' last weekend opened with a whopping $94.3 million in the U. S. and Canadian theatres which is considered the best ever August release.
New Zealand News
- PAGCor suffers first-half deficit of $32.5 million due to corona virus-related closures
- Cambodian casino operator NagaCorp all set to partially reopen flagship Phnom Penh gaming venue
- Bridge Investment ordered to stop work on Tinian Casino project due to lack of permits
- Philippines government warns public not to patronize illegal online gambling operations
- Eldorado Resorts’ capital raising plans could be catalyst to finalize $17.3bn Caesars deal