‘Ant-Man’ helps Disney soar past quarterly projections
Walt Disney — boosted by boffo box-office returns from “Ant-Man and the Wasp” and the “Incredibles 2” — revealed better-than-expected quarterly profits on Thursday.
While the Mouse House’s film studio capped its best fiscal year in its history, the company likewise boosted results by hiking prices at its theme parks.
Disney said Thursday that it is prepping for a transformative year, which will include the completion and integration of its $71.3 billion acquisition of 21st Century Fox, as well as the launch of Disney+ — the company’s new streaming-video service that’s set to compete against Netflix.
Fox shares a common owner with News Corp., which publishes The Post.
Disney chairman and Chief Executive Bob Iger said he plans to unveil an early look at Disney+ in April at the company’s investor’s meeting.
The app, which will launch in late 2019, will include existing and original programming for its five brands, including Pixar, National Geographic and Marvel.
“We’re going into the marketplace, we’re seeing disruption, and hopefully we’re reacting to it in a timely matter,” Iger said, explaining that Disney is looking to “take advantage” of the volatility in the television market.
During its fiscal fourth quarter, Disney reported a 33 percent rise in net income to $2.3 billion, or $1.55 a share. Revenues rose 12 percent to $14.31 billion.
Disney shares rose 2.5 percent, to $118.90, in after-hours trading.
Source: Read Full Article