MoneyWatch

Disney earnings rise on ESPN growth, "Frozen" success

/ Reuters

LOS ANGELES - Media company Walt Disney Co. (DIS) reported higher profit for the quarter that ended in December, boosted by growth at sports network ESPN and the strong performance of its animated hit film "Frozen."

The company posted diluted earnings per share of $1.03, according to a statement released on Wednesday. Net income for the quarter rose to $1.8 billion, a 33 percent gain from a year earlier.

 

Disney's "Frozen" cast talks heart-warming adventure
 Disney shares climbed to $72.81 in after-hours trading, up 1.5 percent from their earlier $71.76 close on the New York Stock Exchange.

The media networks unit, which includes ESPN, reported $1.5 billion in operating income for the quarter, a 20 percent gain from a year earlier.

The company's movie studio reported a 75 percent gain in operating income, to $409 million. The unit benefited from big box office grosses for "Frozen," the story of royal sisters in an icy kingdom, and Marvel superhero sequel "Thor: The Dark World." The two films have sold more than $1.5 billion worth of tickets combined.

First published on February 5, 2014 / 4:55 PM EST

© 2014 Reuters. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.