With “Frozen” providing a boost to Disney’s earnings, the company announced Tuesday that quarterly profits were up 19%, The New York Times reports. Movies, consumer products and theme parks contributed to the rise, offsetting a dip at ESPN, the report notes.
“For the quarter that ended on Dec. 27, the first of Disney’s 2015 fiscal year, the entertainment giant reported net income of $2.18 billion, or $1.27 a share, up from $1.84 billion, or $1.03 a share, a year earlier,” the story reports. “Revenue rose 9 percent, to $13.39 billion.”
The numbers beat the predictions of analysts, who expected net income of $1.07 a share with revenue of $12.87 billion.
The Times reports: “Disney is known for exceeding analyst expectations, but not by such a wide margin. Notably, the company faced arduous year-on-year comparisons; the first quarter of 2014 was a flush period fueled by the release of the blockbuster ‘Frozen’ in theaters, stout sales of the Disney Infinity video game and record theme park attendance.”
But the “Frozen” franchise continues to generate income, the report notes.
“The star of the quarter was Disney Consumer Products, which generated operating income of $626 million, a 46 percent increase from a year earlier,” the story reports. “Merchandise related to ‘Frozen,’ ‘Guardians of the Galaxy’ and stalwarts like Spider-Man and Minnie Mouse contributed to the gain.”
Operating income at the cable networks unit, which includes ESPN and Disney Channel, fell 2% to $1.26 billion, The Times reports.