Disney profit surges 78 percent on gain from new U.S. tax law
Disney profit surges 78 percent on gain from new U.S. tax law
Walt Disney Co, which is buying some of Fox`s film and TV units, reported a 78.4 percent surge in quarterly profit on Tuesday as the media conglomerate recorded a $1.6 billion gain due to recent changes to the U.S. tax law.
Net income attributable to the company rose to $4.42 billion, or $2.91 per share, from $2.48 billion, or $1.55 per share.
Disney`s revenue rose 3.8 percent to $15.35 billion in the first quarter ended Dec. 30, from $14.78 billion a year earlier.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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