Disney shares pass all-time high on earnings

 

Shares were up 0.6% in premarket trading on Wednesday to $44.55 per share. At one point during after-hours trading on Tuesday, shares hit $44.86.

Despite stumbling with “John Carter,” the sci-fi epic that lost the company $200 million, Disney reported earnings for the first three months of the year that surged 18% versus 2011.

“The Avengers” smashed box-office records in its debut this past weekend, grossing more than $207 million and shaping up to be Disney’s highest-earning film ever. Disney CEO Bob Iger said in a call with analysts Tuesday that Disney would release an “Avengers” sequel “eventually, at a date to be determined.”

“We’re incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN, and ABC, and our extraordinary ability to grow franchises across our businesses,” Iger said in a statement.

Disney reported earnings, excluding certain items, of 58 cents a share on $9.6 billion in revenue.

 


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