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Disney profits lifted by Avengers

Category: Business

Published: 7th Aug 2012 22:03:31

The Walt Disney Company has reported higher profits, driven by the success of films such as The Avengers.

Net income for the three months to June rose 24% to $1.83bn (£1.17bn) from the previous year.

"We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company," said Robert Iger, Disney's chief executive.

Revenue at its parks and resorts increased 9% to $3.4bn.

At its film studio, operating income increased more than six-fold to $313m.

"Higher worldwide theatrical results reflected the performance of the current quarter releases including Marvel's The Avengers and Brave compared to Pirates of the Caribbean: On Stranger Tides and Cars 2 in the prior-year quarter," the media giant said.

In May, superhero movie The Avengers smashed the record for the biggest US opening weekend, taking $200m.

Operating income at Cable Networks increased due to growth at the Disney and ABC Family channels in the US, offsetting a drop at sports channel ESPN.

Its theme park in Paris, Euro Disney, is also celebrating its 20-year anniversary.

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BBC News, 2012. Disney profits lifted by Avengers [Online] (Updated 7th Aug 2012)
Available at: http://www.ukwirednews.com/news/1445024/Disney-profits-lifted-by-Avengers [Accessed 30th Jul 2014]

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