The Walt Disney Co. said Tuesday that its earnings in the latest quarter jumped 55 percent on strong box office returns for "Alice in Wonderland."
Disney's earnings offer a partial reading on consumer sentiment. Its amusement parks and movie releases depend on people feeling confident enough to spend their extra cash.
A year ago moviegoers coping with a severe recession largely avoided Disney's "Confessions of a Shopaholic." In the most recent quarter, movie studio profits surged.
Net income for the company came to $953 million, or 48 cents per share, compared with $613 million, or 33 cents per share, from the same quarter a year earlier. Revenue rose 6 percent to $8.6 billion from $8.1 billion.
The results for the fiscal second quarter beat Wall Street forecasts. Analysts expected 46 cents per share on revenue of $8.4 billion.
Shares of Disney, which is based in Burbank, Calif., fell 90 cents, or 2.5 percent, to $34.86 in extended trading after the release of results. Earlier, it rose 47 cents, or 1.3 percent, to close Tuesday at $35.76.
© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.