The Walt Disney Company announced Tuesday its net income increased 32 percent to $1.5 billion in the second quarter. Profits were boosted by increased sales at its media networks, theme parks and hotels, as well as recent films.
Net income was 83 cents per diluted share in the second quarter. Revenues increased 10 percent to about $10.6 billion, beating analysts' estimates of about $10.5 billion.
"Our results reflect our successful strategy, the strength of our brands and the value of our high-quality creative content, all of which continue to drive long-term growth and shareholder value," said CEO Robert Iger.
Sales increased across all the company's major segments. Revenues at Disney's media networks, which include ABC Family and ESPN, increased 6 percent to nearly $5 billion.
Sales at parks and resorts grew 14 percent to $3.3 billion in the second quarter, as customers spent more at the Walt Disney World and Disneyland resorts.
The company also said it saw sales increase in its Studio Entertainment division, due to a strong turnout by the movies "Oz The Great And Powerful" and "Wreck-it Ralph." Sales grew 13 percent to $1.3 billion in the second quarter, compared to a year ago. It also helped that the comparison was made with Disney's poor performance last year with the adventure film John Carter, which was a box office disapointment.
Disney stock closed at $66.07 on Tuesday, up about 2 percent.