Disney posts record results following Star Wars success
The recent successes of the Star Wars film franchise have helped global entertainment giant Walt Disney achieve a record quarterly profit.
For the three months to January 2, the firm saw its earnings leap year on year by 32% to hit $2.9bn (£2bn). Meanwhile, revenues stood at $15.2bn (£10.5bn), an increase of 14%.
Sky News has reported that despite the overall increased takings, Disney saw profits slide across its cable networks, including ABC and ESPN.
The box office success of Star Wars: The Force Awakens, which saw production costs soar over $200m (£140m) but raked in $529m (£370m) worldwide during its opening weekend, delivered an operating income of $1bn (£700m) at Disney’s Studio Entertainment division, representing year-on-year growth of 86%.
Disney acquired Lucasfilm, the studio behind the Star Wars franchise, for $4bn (£2.8bn) in 2012.
Star Wars-related merchandise also pushed the income from the firm’s consumer products and interactive media division up by 23% to $860m (£590m).
According to Sky News, Disney CEO Robert Iger said: “Driven by the phenomenal success of Star Wars, we delivered the highest quarterly earnings in the history of our company.
“We’re very pleased with our results, which continue to validate our strategic focus and investments in brands and franchises to drive long-term growth across the entire company.”
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