The Walt Disney Company reported record earnings for the second quarter, citing the home video success of its smash animated feature Frozen and the Marvel Studios movie Thor: The Dark World as major drivers.
Diluted earnings per share for the second quarter increased 30 percent to $1.08 from $0.83 in the prior-year quarter. Excluding certain items affecting comparability, earnings per share for the quarter increased 41 percent to $1.11 from $0.79 in the prior-year quarter.
“We’re extremely pleased with our results this quarter, delivering double-digit increases in operating income across all of our businesses and the highest quarterly earnings per share in the history of the company,” said Robert A. Iger, chairman and CEO. “Our continued strong performance reflects the strength of our brands, the quality of our content, and our unique ability to leverage creative success across the entire company to drive value.”
Studio entertainment revenues for the quarter increased 35 percent to $1.8 billion and segment operating income increased to $475 million from $118 million. Higher operating income was due to increases in domestic home entertainment, international theatrical and television and subscription video on demand
The increase in domestic home entertainment was due to higher unit sales, which reflected the success of Frozen and Thor: The Dark World in the current quarter compared to Wreck-It Ralph and no comparable Marvel title in the prior-year quarter.
Higher international theatrical results reflected the strength of Frozen in the current quarter compared to Wreck-It Ralph and Oz The Great And Powerful in the prior-year quarter.