Disney Consumer Products reported a strong third quarter with revenue up 16 percent to $902 million and operating income up 25 percent to $273 million.
DCP attributed the increase in operating income for licensing to the performance of merchandise based on Disney franchises like Frozen, Disney Channel properties, Spider-Man and Planes and partially offset by lower Monsters University revenue.
Parent The Walt Disney Company reported a record third quarter with revenue up eight percent to $12.4 billion and net income up 22 percent to $2.24 billion.
“Our strategy of building strong brands and franchises continues to create great value across our company,” says Robert A. Iger, chairman and chief executive officer, The Walt Disney Company. “This quarter we delivered the highest earnings per share in the company’s history, and we’ve now generated greater earnings per share in the first three quarters of fiscal year 2014 than we have in any previous full fiscal year. We’re extremely pleased with these results and we are also thrilled with the spectacular performance of Guardians of the Galaxy, which holds great promise as a new franchise for our company and once again reinforces the tremendous value of Marvel.”
Other divisions also reported strong performance with theme parks and resorts revenue up 23 percent and interactive revenue hitting $29 million versus a loss of $58 for the same period last year.