- Last Updated: 12:27 AM, August 9, 2012
- Posted: 11:58 PM, August 7, 2012
Disney’s “The Avengers” failed to overcome mega-flop “John Carter.”
Thanks to the superhero smash, the media giant posted record third-quarter profit even as revenue trailed expectations, dragged down by the film division.
While strong “Avengers” ticket sales boosted profit at the film studio, revenue at the division was flat because of weak DVD sales for “John Carter” and “The Muppets.”
After taking a $200 million second-quarter hit for “John Carter,” Disney caught a big break with “The Avengers,” which took in $1.5 billion at the global box office to become the third-highest-grossing film of all time.
In the latest quarter, profit rose 24 percent to $1.83 billion, or $1.01 a share. Revenue rose 4 percent to $11.09 billion. Analysts had projected per-share profit of 93 cents and revenue of $11.31 billion.
Shares fell 0.8 percent in after-hours trading to $49.40.