Media giant [Disney] passes Wall Street projections for the first fiscal quarter ended Dec. 28
Box office smashes “Frozen” and “Thor: The Dark World” and the juggernaut that is ESPN propelled the Walt Disney Company to sterling earnings for the three months ended Dec. 28.
The media giant eclipsed Wall Street expectations in every key rubric. Diluted earnings per share for the first quarter of its fiscal year increased 32 percent to $1.04 from 79 cents in the prior-year quarter, while revenues climbed 9 percent to $12.3 billion from $11.3 billion in the year-ago period. Net income increased 33 percent to $1.8 billion.
Analysts had predicted diluted earnings of 92 cents and revenue of $12.25 billion.
The standout was the company’s studio division, which saw revenues jump 23 percent to $1.9 billion and operating income improve 75 percent to $409 million as audiences embraced the Oscar-nominated “Frozen” and the “Thor” sequel. ...
Until the end of this year, there won't be any high-end animated features rolling down the Disney turnpike. (We can't count India-animated Planes II as high end, can we? Even though it's formatted in magnificent WIIDE SCREEN?)
No Pixar offerings until 2005, and Big Hero 6 is still in story work, even as it moves into production. The studio division had a strong year, even as in 2012 it absorbed losses from the lacklustre Lone Ranger. My guess is: 2014 will be stronger than '12, but maybe less robust than the year just past.