Walt Disney shocked Wall Street by reporting incredible earnings courtesy of Star Wars: The Force Awakens, posting earnings of $1.63 per share on $15.24 billion in revenue.
To put it in perspective: Wall Street analysts expected a profit of $1.45 per share on revenue of $14.7 billion and the net profit for the mouse was $2.9 billion for the company’s fiscal first quarter. Yowza.
“Driven by the phenomenal success of Star Wars, we delivered the highest quarterly earnings in the history of our company, marking our 10th consecutive quarter of double-digit EPS growth” said CEO Bob Iger.
The studio’s income was up 86%, while consumer products/interactive grew by 23%. Led by its domestic destinations, Disney also reported big growth in its parks and resorts operation, where operating income grew 22%. Needless to say, the proof is in the pudding…and Star Wars is one heck of a pudding! Iger went on to say this:
“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.”
It looks like the renewed life Disney has breathed into Star Wars is paying off in spades, and we look forward to seeing what the future holds for the interstellar franchise!