Disney shares hit all-time high
New York, NY, United States (AHN) – “The happiest place on earth” made scores of shareholders happy Wednesday when shares of Walt Disney Co. reached $45 per share, an all-time high.
The company reported robust earnings growth and revenue Tuesday after the close, spurred by gains at ESPN and the blockbuster success of the adventure film “The Avengers.”
In premarket activity Wednesday, shares rose 0.6 percent. Ordinary investors’ first chance to trade on the earnings came Wednesday on the open.
Despite the disappointment that accompanied the much-hyped flick “John Carter,” Disney reported earnings for the first quarter of 2012 that jumped 18 percent from the same period a year earlier.
Following the release, Disney CEO Bob Iger said in a statement, “We’re incredibly optimistic about our future given the strength of our core brands, Disney, Pixar, Marvel, ESPN and ABC, and our extraordinary ability to grow franchises across our business.”
In mid-morning trading, with the Dow off some 123 points, Disney was up nearly 2 percent at $45.05.