Media and theme park giant Disney (DIS) has reported earnings for the fiscal second quarter (ended April 3rd). Revenues and share earnings of $8.6 billion and $0.48, respectively, were roughly in line with our estimates, and compared favorably with the prior-year tallies of $8.1 billion and $0.43.
Growth was driven by the Studio Entertainment and Consumer Products businesses, thanks to the solid box-office performance of Alice in Wonderland, which Disney indicated is now its second-highest grossing film of all time in terms of box office sales. Reduced distribution expenses for future releases also helped lift results in this group. Profits in the Consumer segment were boosted by sales of Toy Story and Marvel-related merchandise. Disney is likely to begin the big push for Marvel, which it acquired last summer, though Paramount Pictures, a subsidiary of Viacom (VIAB), still owns movie rights for the next few films.
It wasn’t all good news for Disney in the April period, as some of the aforementioned progress was offset by lackluster performances in the Media Networks and Parks and Resorts divisions.