Disney Revenue Hits $13.1 Billion Thanks To Captain America, Iron Man
The enormous success of Hollywood’s blockbuster movies, Captain America and Iron Man, has lifted Walt Disney’s quarterly earnings.
The Walt Disney (DIS) Company came in slightly below expectations on Tuesday with its quarterly results reporting revenues of $13.1 billion, as against $13.2 billion predicted by Wall Street.
Overall revenue was up 5% from the same quarter a year ago, but the report did cause Wall Street to send the stock down roughly 3% in after-hours trading.
Disney’s movie studios revenues went up a whopping 13% even with the mouse house having some mixed outcomes at the box office over the summer.
The company’s Marvel superhero mash-up, “Avengers: Age of Ultron,” brought strong ticket sales to Disney with the film making over $1.3 billion at the global box office since May.
However, the studio’s futuristic “Tomorrowland” never found an audience and was one of summer’s biggest box office disappointments.
The company’s popular parks and resorts saw revenues go up 4% in the quarter while its media networks increased 5%.
Disney’s “Star Wars: The Force Awakens” doesn’t hit theaters until December, and it’s expected to rake in cash for Disney, with respect to the buzz and most importantly merchandising for the film which kicks into gear starting this September.
