Guardians of the Galaxy and Maleficent drive Disney profits

 

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The Independent Online

Disney posted stronger-than-expected financial results with a little help from Marvel's Guardians of the Galaxy summer blockbuster and Angelina Jolie's Maleficent.

Revenue in its media unit climbed 18 per cent to $1.78 billion, with growth both in theatrical distribution due to Maleficent and Guardians of the Galaxy and home entertainment thanks to Frozen and Captain America. 

Disney said revenue from media and cable networks rose 5 percent to $5.22 billion. Revenue from parks and resorts rose 7 percent to $4 billion. Consumer product revenue rose 7 percent to $1.07 billion. Overall revenue rose 7 per cent to $12.39 billion, ahead of expectations of $12.36 billion. 

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

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