Disney’s Profit Surpasses Estimates with Big Hits

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.