Walt Disney's quarterly profits surpassed estimates postulated by several analysts, mainly due to revenue coming in from consumer products and theme park locations, the Financial Times reports.
Although company officials have been focusing on the successful completion of a new theme park in Shanghai, they are also directing their energies toward expanding their movie production industry, which has fared well in recent months.
Walt Disney's headline film "Avengers: Age of Ultron," which was released earlier this months, has already generated approximately $650 million worldwide. The company's upcoming "Star Wars" movie is also expected to rake in millions in profits.
"There's a whole generation out there that isn't as steeped in Star Wars lore and there are [theatrical] markets that weren't as developed 10 years ago when the last films came out," Walt Disney Chief Executive Officer Bob Iger said, according to the Financial Times.
"China, for instance, was barely developed and is now the number two market in the world."
Walt Disney revenue increased by seven percent to $12.46 billion in the last quarter and operating earnings were also boosted by four percent to $3.12 billion. Overall, the company has experienced a continual rise in profit.
The company was founded in 1923.
