Disney earnings per share jump 31%, with help from ‘Avengers’
Walt Disney Co. reported a 31% jump in earnings per share, the strongest in the company’s history, buoyed by improvements at its film studio, theme parks and consumer products groups.
The Burbank entertainment conglomerate’s revenue reached $11.1 billion for the quarter ended June 30, a gain of 4% from a year earlier. Net income reached $1.8 billion, up 24% from a year earlier. Earnings per share rose to $1.01 -- up substantially from 77 cents reported in the third quarter of 2011.
“We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company,” Disney Chairman and Chief ExecutiveRobert A. Iger said in a statement.
Parks and resorts reported third-quarter revenue of $3.4 billion, up 9% from a year earlier. This reflected improved results from the Tokyo Disney Resort, compared with a year earlier when the March 2011 earthquake and tsunami in Japan resulted in a temporary suspension of operations and fewer guests once it reopened.
The company has also added a fourth vessel to its Disney Cruise Line. And visitors to the Disneyland Resort in Anaheim and to Walt Disney World Resort in Orlando, Fla., also spent more money compared with the same quarter last year.
-- Dawn C. Chmielewski, Los Angeles Times