Disney beats revenue, income estimates as customers flock to parks, motion pictures

Disney beats profit, revenue estimates as consumers flock to parks, movies

The doorway to Walt Disney studios is seen in Burbank, California, U.S. August 6, 2018. REUTERS/Lucy Nicholson

(Reuters) – Walt Disney Co (DIS.N) reported fourth-quarter revenue and income that beat analysts’ estimates, pushed by the success of its Marvel sequel “Ant Man and the Wasp” and as extra guests flocked to its theme parks throughout the summer time season.

Shares of the corporate, which is shopping for the majority of Twenty-First Century Fox Inc’s (FOXA.O) TV and movie models, rose 2 p.c to $118.39 after the bell.

Income from Disney’s studio enterprise, which produces and acquires live-action and animated movement footage, rose 50 p.c to $2.15 billion, beating the common analyst estimate of $1.80 billion.

Income from its theme parks and resorts enterprise rose 8.6 p.c to $5.07 billion, additionally beating analysts’ estimate of $5.09 billion.

Web earnings attributable to Disney rose to $2.32 billion, or $1.55 per share, within the fourth quarter ended Sept. 29 from $1.75 billion, or $1.13 per share, a 12 months earlier.

Excluding sure objects, Disney earned $1.48 per share, above analysts’ expectations of $1.34 per share, in keeping with IBES knowledge from Refinitiv.

The corporate stated whole income rose to $14.31 billion from $12.78 billion, above analysts’ estimates of $13.73 billion.

Reporting by Vibhuti Sharma in Bengaluru; Modifying by Anil D’Silva

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