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05/03/2024 06:13:23 pm

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Disney's Fourth Quarter Profit Rose, Frozen Drove Profits

Disney

(Photo : Reuters) Disnye's Fourth Quarter Profit announced, Frozen helped in raising revenue of Walt Disney Co.

'Frozen' is not just a hit in the theatres as it has also benefitted Walt Disney Co. as reflected in the company's fourth quarter profit.

According to 'The Burbank', a California-based media giant, the fourth quarter net income of Disney rose to eight percent as compared to last year. Reportedly, the major business lines of Disney including TV shows, films, and theme parks had higher revenues. The total amount is US$1.5 billion.

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Also, the adjusted earnings per share rose to 89 cents, which is higher than that of last year and higher than the estimate of analysts who earlier noted that it will only be at 87.

The total revenue rose by seven percent amounting to USA$12.4 billion, but shares fell by 2.3 percent for after-hours trading amounting to US$89.85 percent.

'Frozen', as a film, reportedly rose to 18 percent and is at US$1.8 billion. Other films released by Disney include 'Guardians of the Galaxy' and 'Maleficent', which also had high revenues as compared to the films released by the animation giant last year.

The paper added that the increase in worldwide home entertainment was because of higher unit sales, lower per unit costs, and higher net effective price in reference to 'Frozen'.

As for the media networks unit, the revenues is based from its largest business division, which is the cable and TV network operations. This unit rose to five percent this year making the sales total to US$5.2 billion. However, it has been reported that the rise in the income is not as skyrocketing as the other units because of programming and marketing costs.

As for the operating income unit, its revenue rose from $5 million to $163 million because pay-TV distributors generated higher fees. For the parks and resorts unit, those who handle the Disney parks saw a rise in their revenue by seven percent amounting to USS$3.96 billion.

For the consumer products unit, such as merchandised items, it has climbed to seven percent amounting to US$1.07 billion.

However, the interactive division, those in charge of gaming and online properties of Disney, had a loss of over nine percent this year as its revenue has decreased to US$362 million. 

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