Walt Disney has reported a boost in revenue thanks to the success of its recent blockbuster movies.
The animation producer recorded a seven per cent increase during the fourth quarter taking revenue to $12.39 billion (£7.8 billion). This exceeded its initial expectation of $12.36 billion. The studio noted that hit films such as Guardians of the Galaxy and Maleficent had allowed it to achieve 18 per cent growth over the course of the period.
It is not just in the cinema where Disney has been excelling, as the release of Frozen on DVD has helped to boost figures. The company stated in its full year results that the 3D animated film has had both a strong home entertainment and theatrical performance allowing Disney to achieve record revenue of $48.8 billion.
Robert Iger, chairman and chief executive, stated that the latest results highlighted the fourth consecutive year of record performance. The company is now starting to look towards the future and other potential releases.
Mr Iger added: "We're obviously very pleased with this achievement and believe it reflects the extraordinary quality of our content and our unique ability to leverage success across the company to create significant value, as well as our focus on embracing and adapting to emerging consumer trends and technology."
As part of Disney's trading statement, it announced that it is looking release the fourth edition in the Toy Story franchise. Toy Story 3 proved a huge hit at both the box office and on the small screen generating over $1 billion. Following this success, Disney said it was inevitable a Toy Story 4 would be made.
The studio has signed up director John Lasseter, who directed Toy Story 1 and 2, and is looking at a release date of 2017.
Shares in the Walt Disney Company opened 1.10 per cent up on Friday (November 7th) at $92.
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