‘BEAUTY AND THE BEAST’ BOOSTS WALT DISNEY’S PROFITS

Washington – The new live-action version of ‘Beauty And The Beast’ helped lift Walt Disney’s second-quarter profits to the top end of analyst estimates but revenues were slightly below Wall Street expectations.

Across the company, revenues for the first quarter rose to $13.3 billion. Net income increased from $2.1 billion to $2.4 billion.

The box office success of the movie, along with the home entertainment releases of Moana and Doctor Strange, drove a 21% increase in operating income at Disney’s movie studio while profits at its theme parks rose 20% thanks to higher attendance and spending at the company’s US attractions Revenue at Disney’s studio operations declined 1% year-on-year, as strong audiences at Beauty and the Beast couldn’t match the firm’s success last year with films such as Zootopia and Star Wars: The Force Awakens.

The revenues of Disney’s Beauty And The Beast exceeded $1 billion around the world. Disney has spent $160 million making the movie. (QNA)

Source: Qatar News Agency