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TechnologyDisney beats profit, revenue estimates as consumers flock to parks, movies

23:31  08 november  2018
23:31  08 november  2018 Source:   reuters.com

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The Walt Disney Co.'s profit for the third-quarter beat analyst estimates but revenue came up short due to unchanged revenue at its movie studio Parks and resorts revenue grew 9 percent to .44 billion. The segment benefited from a full quarter of operations of its newest cruise ship, the Disney

(Reuters) - Walt Disney Co’s (DIS.N) quarterly profit topped Wall Street’s estimates as its blockbuster animated film “Frozen” heated up home entertainment and toy sales, and visitors flocked to the company’s U.S. theme parks . Disney shares rose 4.4 percent to .23 in after-hours trading on

Disney beats profit, revenue estimates as consumers flock to parks, movies© Reuters/Lucy Nicholson The entrance to Walt Disney studios is seen in Burbank (Reuters) - Walt Disney Co reported fourth-quarter profit and revenue that beat analysts' estimates, driven by the success of its Marvel sequel "Ant Man and the Wasp" and as more visitors flocked to its theme parks during the summer season. Shares of the company, which is buying the bulk of Twenty-First Century Fox Inc's TV and film units, rose 2 percent to $118.39 after the bell.

Revenue from Disney's studio business, which produces and acquires live-action and animated motion pictures, rose 50 percent to $2.15 billion, beating the average analyst estimate of $1.80 billion.

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Theme parks are core to the business model of American media giant the Walt Disney Company. Last year its 11 parks around the world provided nearly Disney changed that by integrating his rides with stories which had become famous in his blockbuster movies . It marked the start of a process which

Disney 's fiscal quarter profit from operations of 1 million compared with net income of 8 million, or 13 cents a share. Revenue at Disney DIS, +2.34 Disney said it is confident that people will still flock to its theme parks during an economic downturn and noted that there has a decline in bookings

Revenue from its theme parks and resorts business rose 8.6 percent to $5.07 billion, also beating analysts' estimate of $5.09 billion.

Net income attributable to Disney rose to $2.32 billion, or $1.55 per share, in the fourth quarter ended Sept. 29 from $1.75 billion, or $1.13 per share, a year earlier.

Excluding certain items, Disney earned $1.48 per share, above analysts' expectations of $1.34 per share, according to IBES data from Refinitiv.

The company said total revenue rose to $14.31 billion from $12.78 billion, above analysts' estimates of $13.73 billion.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Anil D'Silva)

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