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June 24, 2017

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Disney Q1 gets boost from hit movie 'Frozen', 'Infinity' console game sales

LOS ANGELES -- The Walt Disney Co. on Wednesday reported earnings and revenue for the holiday quarter that beat Wall Street's expectations, helped by movie hits like "Frozen" and sales of its "Disney Infinity" console game.

Net income in the fiscal first quarter through Dec. 28 rose to US$1.84 billion, or US$1.03 per share, from US$1.38 billion, or 77 cents per share, a year ago.

Excluding restructuring charges and other items, adjusted earnings came to US$1.04 per share, beating the 92 cents expected by analysts polled by FactSet.

Revenue rose 9 percent to US$12.31 billion, beating the US$12.25 billion expected by analysts.

Shares rose US$1.09, or 1.5 percent, to US$72.85 in after-hours trading Wednesday, after already gaining 71 cents to close at US$71.76 in the regular session.

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