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Disney earnings rise on ESPN growth, film hit Frozen

Published on Feb 6, 2014 6:04 AM
 
The Walt Disney animated film Frozen. Media company Walt Disney Co reported higher profit for the quarter that ended in December, boosted by growth at sports network ESPN and the strong performance of its animated hit film Frozen. -- FILE PHOTO: WALT DISNEY STUDIOS MOTION PICTURES, SINGAPORE

LOS ANGELES (REUTERS) - Media company Walt Disney Co reported higher profit for the quarter that ended in December, boosted by growth at sports network ESPN and the strong performance of its animated hit film Frozen.

The company posted diluted earnings per share of $1.03, according to a statement released on Wednesday. Net income for the quarter rose to US$1.8 billion, a 33 per cent gain from a year earlier.

Disney shares climbed to $72.81 in after-hours trading, up 1.5 per cent from their earlier $71.76 close on the New York Stock Exchange.

The media networks unit, which includes ESPN, reported US$1.5 billion (S$1.9 billion) in operating income for the quarter, a 20 per cent gain from a year earlier.

 
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