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How Disney Earned Record Profits This Quarter

NEW YORK ( TheStreet) -- The Walt Disney Company (DIS - Get Report) has reached record profit levels in its second quarter, powered by the success of wildly-successful animated movie  Frozen and superhero sequel Thor: The Dark World.

The largest global entertainment company earned $1.7 million over its March-ending quarter, 17% higher than $1.45 million a year earlier.

Net income of $1.11 a share marked the highest quarterly earnings per share in the company's history and exceeded estimates by 15 cents, according to analysts surveyed by Thomson Reuters.

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Revenue of $11.65 billion surged 10.3% year over year and beat expectations by $397 million.

>>Also see: Four Times Disney's Frozen Fever Snowballed Out of Control

"We're extremely pleased with our results this quarter, delivering double-digit increases in operating income across all of our businesses," said CEO Robert Iger in a statement.

Disney's studio entertainment, a division which includes DVD and box office sales, saw the largest increase in operating income, up more than 100% year over year to $475 million. Revenue surged 35% to $1.8 billion, reflecting the popularity of Frozen and Thor compared to the near-equivalent tent-pole films Wreck-It Ralph and Oz The Great and Powerful a year earlier.

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FB $117.58 0.00%
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