Thanks to the box office success of "Avengers: Infinity War" and "Incredibles 2," The Walt Disney Co. Tuesday reported a 7 percent jump in revenue, compared to the same quarter in 2017, but the earnings fell short of Wall Street expectations.
For the quarter ending June 30, the company reported earnings per share of $1.87, up 18 percent from $1.58 in the second quarter last year but below the projected $1.95 per share.
Revenue increased 7 percent to $15.2 billion, while net income jumped 23 percent to $2.9 billion.
"We're pleased with our results in the quarter, including a double- digit increase in earnings per share, and excited about the opportunities ahead for continued growth," Disney CEO/Chairman Bob Iger said. "Having earned the overwhelming support of shareholders, we are more enthusiastic about the 21st Century Fox acquisition than ever, and confident in our ability to fully leverage these assets along with our own incredible brands, franchises and businesses to drive significant value across the entire company."
The performance of "Avengers: Infinity War" and "Incredibles 2" powered the company's Studio Entertainment division to a 20 percent leap in revenue compared to the second quarter of last year, when "Guardians of the Galaxy Vol. 2" and "Cars 3" were in theaters. This year's second quarter was also boosted by continuing earnings from "Black Panther" and "Solo: A Star Wars Story."
Disney also reported a 5 percent jump in revenue for its Media Networks division and 6 percent for its Parks and Resorts division.