'Frozen' fuels record earnings at Disney

'Frozen' fuels record earnings at Disney

Frozen has pulled in $1.18 billion worldwide since hitting theaters in November.

The Walt Disney Company reported Tuesday record earnings for the second quarter. According to Reuters, net income for the quarter rose to $1.9 billion from $1.5 billion a year earlier. Adjusted earnings for the quarter rose 41 percent to $1.11 a share from $0.79 in the prior-year quarter. Analysts had reportedly forecasted $0.96 a share.

The New York Times reports that the success of Disney’s Frozen may have been the biggest contributor to the Company’s overall increase in profit. The wildly successful movie hauled in $1.18 billion worldwide since hitting theaters in November. The Times notes that because of Frozen, Walt Disney Studios saw an operating income of $475 million compared to $118 million a year ago.

“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,” exclaimed Robert A. Iger, Chairman and CEO, The Walt Disney Company. “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.”

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