Strong performance from studio entertainment projects such as Toy Story 3 and media networks such as ESPN helped the Walt Disney Co. report a boost in the bottom line for the third quarter.
In its quarterly results report, the studio reported net income of $1.33 billion for the third quarter, up from $954 million for the same quarter of last year. The company also reported revenues increased from $8.6 billion to $10 billion, a boost of 16 percent.
The company reported a 30 percent boost in revenues to $1.6 billion for its studio entertainment segment; Operating income also increased. The increase was attributed to the strong worldwide performance of the films Toy Story 3, Alice in Wonderland and Iron Man 2.
Meanwhile, Disney set March 9, 2012, as the release date for the stop-motion animated film Frankenweenie. The 3D film is based on a live-action short film by Tim Burton, who is producing the feature with John August writing the script.
Also, John Carter of Mars is now scheduled for release on June 8, 2012. Andrew Stanton, whose credits as a diretor and writer include the Pixar features A Bug’s Life, Finding Nemo and WALL-E, is directing and co-writing the live-action adaptation of Edgar Rice Burroughs’ famous novel series.