Disney blew past analysts’ estimates for its most recent quarter — thanks to such blockbusters as “Frozen,” “Captain America 2” and “Maleficent” — generating more earnings per share in the first three quarters of fiscal 2014 than it had previously produced in an entire year.
The Mouse House had earnings of $1.28 per share on revenue of $12.5 billion, up 8 percent from a year ago. Analysts were looking for earnings of $1.17 a share on $12.16 billion. Shares added 18 cents, to $86.93 in after-hours trading.
Chief Executive Bob Iger, in announcing the results Tuesday, also expressed delight in last weekend’s “fantastic debut” of “Guardians of the Galaxy.” The superhero action flick’s opening box office of $181 million, he said, “once again reinforces the tremendous value of Marvel.”
Two other segments — consumer products and parks & resorts — had standout quarters as well. Yet their respective gains of 25 percent and 23 percent in operating income didn’t light up the night sky quite like the studio’s 104 percent increase.
The growing importance of movies to the health of the Burbank, Calif.-based media giant wasn’t lost on analysts. “It looks like a massive step up,” one analyst said during the earnings call.
Iger responded by calling out the studios Disney purchased after he became chief in 2005: “We made three big bets — Pixar, Marvel and Lucas.”
The characters those studios bring to the public boost the entire company, he added, when marketed as toys, video entertainment and park attractions.