Disney beats forecasts as Frozen toy sales surge
05.02.2015 09:59
Entertainment giant Walt Disney has credited the continuing success of toys based on its hit film Frozen and an increase in visitors to its theme parks for an "incredibly strong quarter".
Net income rose 19% to $2.2bn (£1.5bn) in the quarter, with revenues up 9% to $13.4bn, both better than forecast.
Frozen toys sold particularly well, helping its consumer products division to report a 22% rise in sales.
"This was yet another incredibly strong quarter for our company," it said.
The company also reported a 9% rise in sales at its theme parks and resorts for the three months to the end of December, despite fears over a measles outbreak at Disney's Southern California parks in December.
Chief executive Robert Iger told CNBC that the outbreak had had no impact on attendance and that visitors were up compared to the same quarter last year.
However, sales in its studio entertainment division fell 2%. Disney said the fall reflected the weaker performance of its Big Hero 6 film compared to Frozen's strong performance in the same quarter a year ago.
Disney's shares, which have already risen 30% over the past year, rose a further 4.4% to $98.23 in after hours trading.
"Our results once again reflect the strength of our brands and high quality content," said Mr Iger.
(BBC)
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