Disney delivers strong numbers – profit jump at the beginning of the year

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Walt Disney lettering

The media company sees the future in the booming streaming business. As of November, Disney + market leader Netflix will compete.

(Photo: AP)

Burbank The Hollywood giant Walt Disney is currently breaking records with his Marvel epic "Avengers" and by the beginning of the year business was already running smoothly. In the three months to end of March the proceeds rose compared to the previous year's value by almost three percent to 14.9 billion dollars (13.3 billion euros), as the group announced on Wednesday after the US market close.

The sales already benefited from the acquisition of large parts of the rival 21st Century Fox, which made itself noticeable at the end of the quarter for the first time in the balance sheet. Above all, however, Disney was once again able to rely on its thriving theme park and resort business. The cable division with the ailing sports channel ESPN and the film studios, however, dropped significantly less money. Overall, Disney increased the profit yet by more than 85 percent to 5.5 billion dollars.

However, the comparison is distorted due to high special factors due to the Fox acquisition. Adjusted earnings per share fell 13 percent to $ 1.61, but outperformed market expectations. Depending on which quarter of Disney's big hit movies fall, the results vary traditionally strong.

So had "Black Panther" last year vigorously let the coffers ring. The outlook is good, however, as the entertainment giant with "Avengers: Endgame" recently made the most successful film launch so far. The superhero epic grossed more than $ 2 billion in cinemas worldwide in no time at all and is on course to catch up with Avatar as the most financially profitable production in film history.

CEO Bob Iger is increasingly seeing the future in the booming streaming business, where his company wants to hunt down industry leaders Netflix starting in November with the Disney + online service on the US market.

Disney + customers will be able to watch the latest "Avengers" movie on the Internet from December 11, Iger revealed. Overall, the quarterly figures were significantly better than expected by analysts, which Disney's shares continued to boost after-hours. Over the year, the price was already up 23 percent.

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(tTranslate) Walt Disney (t) Avangers (t) Marvel (t) 21st Century Fox (t) Netflix (t) Disney + (t) Investment Stock Share (t) Share (t) Disney (t) ESPN Inc (t) Bob Iger (t) movie industry

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