Disney movies lift results in 4th quarter

2014-11-07 19:00

New York - The success of The Walt Disney Cos' movies, including the animated tale Frozen and the Marvel movie Guardians of the Galaxy, lifted the media company's fiscal fourth-quarter results.

Disney Studios has had a string of hits that is likely to continue with the first of its annual Star Wars movie launching next year. On Thursday, Disney said the movie will be called The Force Awakens.

Check out the trailer for Guardians of the Galaxy:

Disney Studios had the strongest results among the media company's divisions. Revenue in that unit climbed 18% to $1.78bn, with growth both in theatrical distribution due to Maleficent and Guardians of the Galaxy and home entertainment due to the continuing popularity of Frozen and Captain America.

Other segments reported higher revenue as well. The Burbank, Calif.-based company said revenue from media and cable networks rose 5% to $5.22bn. Revenue from parks and resorts rose 7% to $4bn. Consumer product revenue rose 7% to $1.07bn.

Overall revenue rose 7% to $12.39bn, ahead of expectations of $12.36bn.

Fourth-quarter net income rose 8% to $1.5bn, or 87 cents per share. Excluding one-time items, net income matched analyst expectations of 89 cents per share.

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