Disney crushes earnings expectations, thanks to Star Wars

Disney reported quarterly results on Tuesday evening, crushing expectations for profits.

The company posted $1.63 in adjusted earnings per share for the first fiscal quarter. Revenues grew 14% to $15.2 billion.

Analysts had expected first-quarter earnings per share (EPS) of $1.45 and revenues of $14.73, according to Bloomberg.

“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 Robert A. Iger in the earnings statement.

Disney shares have fallen 9% over the last 12 months. They dropped sharply last August as investors got more concerned that the decline in cable subscriptions would hurt its media business.

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