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Walt Disney’s profit rises 27 percent on strength of ‘Frozen’ movie franchise
Walt Disney on Tuesday continued its red-hot earnings streak with the global success of the animated blockbuster “Frozen” and a ripple effect on sales of DVDs, music and other merchandise tied to the movie. Second-quarter net profit rose 27 percent, to $1.9 billion, as every business segment recorded double-digit growth in earnings. Revenue increased 10 percent, to $11.6 billion. Disney’s stock rose 0.6 percent in after-hours trading to $81.48. The success of “Frozen” demonstrates the impact that one blockbuster film can have on the entertainment conglomerate’s other businesses, including theme parks, retail stores in malls, and record and DVD sales. The company hopes to replicate the success of “Frozen” across…