Disney 1Q helped by ‘Frozen,’ ‘Infinity’
LOS ANGELES – 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 percent to $12.31 billion, beating the $12.25 billion expected by analysts.
Shares rose $1.21, or 1.7 percent, to $72.97 in after-hours trading Wednesday, after already gaining 71 cents to close at $71.76 in the regular session.