Sales of “Avengers“, “Star Wars“, and “Frozen” merchandise delivered operating income of $348 million, a 27% increase from a year earlier.
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Walt Disney reported net income of $2.48 billion for the third quarter, which is an increase of 11% from past year.
Cord-cutting loomed over Disney’s quarterly earnings, as a loss of ESPN subscribers caused Disney to taper its TV profit outlook. Revenue expanded 6% to $954m. Media Networks grew revenue 5% from the comparable quarter to a total of $5.8 billion.
The weaker euro cut revenue at the Disneyland Paris theme park by about US$100 million, McCarthy said. The media company’s studio, Paramount, also had a bad quarter with operating income down 13%.
Disney, the world’s largest entertainment company, posted third-quarter earnings of $1.45 a share, excluding items, according to a statement Tuesday.
Disney, which had been the top-performing stock in the Dow Jones Industrial Average this year, said operating income will be reduced by $500m (€456.6m) next year as a result of the strong dollar.
“The strong results across our many diverse lines of business demonstrate the power of our unparalleled brands, franchises and creative content”, he said.
Operating profit at theme parks rose 9 percent to $922 billion in the third quarter as attendance and spending rose at U.S. parks.
US cable TV companies have watched their shares decline as investors panic at the acceleration of customers turning their attention to online viewing. The basis for this estimate uses the average of the earnings per share numbers that the covering sell-side analysts provide.
Shares of Walt Disney Company (The) (NYSE:DIS) ended Thursday session in red amid volatile trading. For the full year analysts expect revenue growth of 7.7% and earnings per share growth of 16.9%.
A bright spot for Disney was its movie studio revenues which surged 13%, largely because of the Marvel superhero mash-up, “Avengers: Age of Ultron“, which brought in over $1.3 billion at the global box office since May.
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On the previous day, major media companies, such as Time Warner, Walt Disney, CBS, Comcast, 21st Century Fox, were down anywhere from 6% to 12%.
