Wednesday, January 27, 2021

FROZEN HEATS UP DISNEY’S EARNINGS

February 6, 2014 by · Leave a Comment 



The Walt Disney Co. reported a whopping 33-percent increase in net income to $!.84 billion in its first quarter, with its core film division leading the way. Revenue was up 9 percent to $12.31 billion. The results beat analysts expectations. Particularly satisfying no doubt for Disney executives must have been the performance of its movie studio, which saw its operating income soar 75 percent from the comparable quarter a year ago to $469 million on revenue of $1.9 billion. Much of that upsurge was attributed to the success of Frozen, which was produced by its indigenous animation studio — it has now grossed $865 million worldwide to date — and Thor: The Dark World — it has grossed $633 million — which materialized as a result of Disney’s acquisition of Marvel. Virtually every area of Disney’s diversified entertainment operations showed solid improvements, including — as usual — its media networks group, principally ABC and ESPN, which ordinarily is Disney’s revenue pacesetter and which posted operating income of $1.5 billion, up 20 percent.for the quarter.