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Disney shares jump as 'Frozen' fuels higher earnings


    (Reuters) - Media company Walt Disney Co on Tuesday reported higher profit that beat Wall Street expectations for the quarter that ended in March, boosted by the continued strength of its blockbuster animated film "Frozen."

    The company said it posted adjusted earnings of $1.11 a share, beating the 96 cent average forecast of analysts surveyed by Thomson Reuters I/B/E/S. A year ago, Disney reported adjusted earnings of 79 cents a share.

    Disney shares rose 1.3 percent in after-hours trading, to $82.05 a share.

    Net income for the quarter increased to $1.9 billion from $1.5 billion a year earlier, lifted by growth at its movie studio.

    The animated blockbuster "Frozen" continued to propel the studio, which saw its operating income quadruple to $475 million from $118 million a year earlier.

    (Reporting by Lisa Richwine and Ronald Grover; Editing by Cynthia Osterman)