May 9, 2017 / 8:14 PM / 5 months ago

Walt Disney profit rises 11.4 percent

May 9 (Reuters) - Walt Disney Co reported an 11.4 percent rise in quarterly profit on Tuesday, helped by the success of its latest fairy tale adaptation “Beauty and the Beast” and strength in the company’s theme park business.

Disney’s revenue rose 2.8 percent to $13.34 billion from $12.97 billion, a year earlier.

Net income attributable to the company rose to $2.39 billion, or $1.50 per share, in the second quarter ended April 1, from $2.14 billion, or $1.30 per share.

Investors breathed a sigh of relief after Disney said in March that it would extend Chief Executive Officer Bob Iger’s term to July 2019.

The company extended Wall Street favorite Iger’s term for the third time.

Reporting by Rishika Sadam in Bengaluru; Editing by Sriraj Kalluvila

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