The takings for The Rise Of Skywalker and Frozen 2 have helped the Walt Disney Company exceed market expectations for earnings, which were announced today.
Fueled by the box office successes of Star Wars: The Rise of Skywalker and Frozen 2, each of which have exceeded $1 billion worldwide, Walt Disney’s quarterly financial results beat the expectations of Wall Street on Tuesday, causing shares of the $262 billion entertainment conglomerate to rise slightly in after-hours trading.
Disney reported on Tuesday that it earned $1.53 per share in the first fiscal quarter while analysts expected it to post $1.43. Revenue was $20.9 billion while analysts expected $21.1 billion.
Among the Disney operating segments, the film studio had revenues of $3.76 billion in the quarter, up by more than 100 percent year over year.
When asked if Disney’s film studio could repeat last year’s stunning $11 billion-plus in global box office revenue, Iger said “2020 won’t be the same as 2019 for the studio, but we still expect a very strong year.”