Media company Walt Disney Co reported higher profit for the quarter that ended in December, beating Wall Street expectations due to growth at sports network ESPN and the blockbuster performance of its animated hit film "Frozen." Disney shares jumped 3.9 percent in after-hours trading on Wednesday to $74.52, up from their earlier $71.76 close on the New York Stock Exchange. The company posted adjusted earnings per share of $1.04, according to a statement it released, exceeding the 92 cents average estimate of analysts surveyed by Thomson Reuters I/B/E/S. Net income for the quarter rose to $1.8 billion, a 33 percent gain from a year earlier. The company's five major business units all reported higher profit, with the biggest gain at Disney's movie studio.
via Business News - Yahoo Finance http://ift.tt/1kWfUVu
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