Disney Stock Reaches All Time High as Q2 Results Smash Estimates

Walt Disney (DIS) reported second quarter results on Tuesday that beat analyst estimates. The entertainment giant delivered a 14 percent increase in earnings with $1.23 per share. Revenue was up to $12.46 billion from last years $11.65 billion. Disney's parks and resorts division reported a 6 percent revenue increase but Disneyland resort saw a drop in attendance numbers. Disney owned network ESPN sued Verizon (VZ) last week after the cable company allegedly broke the traditional bundle offering for customers. The company's movie studios continue to see strong revenue from its 'Frozen' movie franchise. Disney CEO Robert Iger praised the company's strong brand and quality content, adding that 'The power of this winning combination is once again reflected in the phenomenal worldwide success of Marvel's Avengers: Age of Ultron, which has opened at number one in every market so far.' The movie took an astounding $187.7 million in its weekend debut. Disney stock was up on the earnings news and has risen around 18 percent this year.