Disney on Wednesday reported that its profit soared in the recently-ended quarter as it merged with 21st Century Fox. The entertainment titan said its net income was up 85 percent to $5.4 billion during the first three months of this year on revenue that rose three percent to $14.9 billion.
The leap came despite a hit "Captain Marvel" film not matching the dizzying success of a "Black Panther" superhero movie release in the same period last year.
Disney's coffers in the current quarter will benefit from Marvel superhero megahit "Avengers: Endgame," which has shattered movie box office records. "We're very pleased with our Q2 results and thrilled with the record-breaking success of 'Avengers: Endgame,'" said Walt Disney Company chief executive officer Robert Iger. Disney's fiscal year begins in October. Disney and Marvel's "Avengers: Endgame" has stormed into historic territory, earning $2.19 billion worldwide in less than two weeks to become the No. 2 film of all time, according to industry watcher Exhibitor Relations.
That exalted number pushes the superhero blockbuster past "Star Wars: The Force Awakens," which netted $2.07 billion, and even "Titanic" ($2.18 billion). Only "Avatar" ($2.79 billion) has done better, yet "Avengers" hit its record total in just 11 days. Disney also saw a rise in revenue from its amusement parks, with a new "Star Wars" attraction opening soon at Disneyland Anaheim expected to provide a boost through the year.