Disney Drive up Cinema Earnings
Blockbusters such as “Incredibles 2” and “Ant-Man and the Wasp” help the film company to make a profit jump. The quarterly ticker.
The quarter season is running in the New York USA. But corporations and big banks are also opening their books in Europe.
The US entertainment giant Walt Disney has made a profit jump in the summer, cinema successes such as “Incredibles 2” and “Ant-Man an the Wasp”. In the fourth fiscal quarter (until the end of September), the surplus over the previous year’s value by almost a third to 2.3 billion US dollars (2.0 billion euros), as the group announced on Thursday after the US market close. Revenues grew 12 percent to $ 14.3 billion.
Thus, the numbers clearly exceeded the expectations of the experts. The share of the Disney group, which is ahead of the acquisition of much of its rival 21st Century Fox, rose after the first session by 1.5 percent. Over the year, the price is up 7.5 percent.
Especially in the film business, the business was good, here, the operating profit shot up by 50 percent to 2.2 billion dollars. But the other divisions – Disney’s theme parks and resorts and the TV area with the sports channel ESPN – recorded significant growth.
In the future, the Hollywood giant wants to focus more on the booming streaming market, as online video services like Netflix chase away more and more customers. Disney therefore launches its own Internet service and relies heavily on purchased content from its competitor Fox. The over $ 70 billion acquisition took an important hurdle with approval from EU competition officials on Tuesday.
“We continue to focus on the successful completion and integration of our 21st Century Fox acquisition,” said Disney CEO Bob Iger on presentation of the financial report. Not only in the past quarter, but also throughout the past financial year, things went well for the Group. Disney increased profits by 40 percent to 12.6 billion dollars (11.1 billion euros). Turnover rose 8 percent to $ 59.4 billion. Both are according to CEO Iger new record levels.
The initial sales of the computer game “Call of Duty: Black Ops 4” have disappointed investors. After the stock exchange fell the share of the group by eight percent. Third-quarter revenue of $ 3.05 billion was slightly below expectations, with net income rising to $ 260 million from $ 188 million a year earlier.
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