Walt Disney Co. Net Income Up 11% in Third Quarter

World's largest entertainment company, Walt Disney Co., has recorded an upsurge of 11% in its gross income, when compared with last year, in the quarter ending June.

The company reported gross profit of $2.483 billion in its fiscal third quarter. The company's revenue went up 5% to $13.1 billion.

One of the highlights in the remarkable results for the quarter completing on June 27, included per share earnings of $1.45. With this, the company beat the analysts' estimates of $1.42. When compared with last year, the per share earnings rose 13% in third quarter.

"The strong results across our many diverse lines of business demonstrate the power of our unparalleled brands, franchises and creative content," stated Disney Chairman and Chief Executive Robert Iger.

The company's operating income, meanwhile, turned out to be $472 million, up 15% since last year. "Avengers: Age of Ultron," the superhero flick produced by Walt Disney Co. was the biggest profit puller. It contributed to the net income by drawing $1.4 billion worldwide since May 1, when it was released.

Disney's other film "Tomorrowland", which could not do well, was no deterrent in terms of overall profit margins in the quarter. The company officials, however chose silence when asked about the loss noted through "Tomorrow land".

Tomorrowland was released on May 22 and earned $208 million at the box office. The estimated budget for the film was $190 million.

Critics have shown apprehensions over Brad Bird-directed sci-fi film, estimating a loss of $140 million.

The company's interactive division, meanwhile, reported poor results. The company blamed it on the less-than-expected income from "Disney Infinity", Disney's action-adventure video game.