Captain America and Iron Man lifted the Disney Company quarterly earnings.
The Walt Disney Company came in slightly below expectations on Tuesday with its quarterly results reporting revenues of $13.1 billion. Wall Street was expecting $13.2 billion.
Overall revenue was up 5% from the same quarter a year ago, but the report did cause Wall Street to send the stock down 3% in after-hours trading.
Disney’s movie studios revenues went up a whopping 13% even with the mouse house having some mixed outcomes at the box office over the summer.
The company’s Marvel superhero mash-up, “Avengers: Age of Ultron,” brought strong ticket sales to Disney with the film making over $1.3 billion at the global box office since May.
However, the studio’s futuristic “Tomorrowland” never found an audience and was one of summer’s biggest box office disappointments.
The company’s popular parks and resorts saw revenues go up 4% in the quarter while its media networks increased 5%.
The company’s media crown jewels, ESPN, the sports network has seen a bit of talent exodus in recent months with Bill Simmons, Keith Olbermann, and Colin Cowherd all leaving the Worldwide Leader in Sports.
Some reports have said that the network cut ties with some of the talent due to it cutting costs.
As the summer winds down, Disney looks past superheroes and now sets its sights on one of the most anticipated franchises in a galaxy far, far away.
Disney’s “Star Wars: The Force Awakens” doesn’t hit theaters until December, but the buzz and most importantly merchandising for the film kicks into gear starting this fall.
“Force Awakens” products and toys hit shelves on September 4 at 12:01 a.m. in an event being called “Force Friday.”
