Earnings: 'Frozen' warms up Disney; AOL climbs; Time Warner solid after spinoff

It's earnings season, and companies with national and global reach are releasing their financial results on Aug. 6, 2014. See updates below, and check back throughout the day as more earnings reports are added.

'Frozen' helps Disney 3Q profit rise 22 percent

Animated hit "Frozen" continued to help boost The Walt Disney Co., as the company reported third-quarter net income that rose 22 percent, topping analysts' expectations. The movie sold well at international box offices and in home video and lifted merchandise sales.

With another hit — last weekend's Marvel superhero epic "Guardians of the Galaxy" — set to be made into a series, and the first of its annual "Star Wars" movies to launch next year, the company is on track for a multiyear revival of the studio that is lifting results across its divisions.

And it comes even after Disney delayed what would have been its only Pixar film of 2014, "The Good Dinosaur." The movie, originally slated for a May release, won't come out until November 2015.

"The fact that we're doing as well as we're doing without a Pixar film probably says a lot about what's up in the future," CEO Bob Iger said on a conference call.

Since "Guardians" was released on Friday, it has pulled down more than $106 million in North America, adding to the best domestic August opening weekend ever.

This year's successes, including nearly $1 billion-gross hits "Maleficent" and "Captain America: Winter Soldier," represent a huge turnaround for the studio. Previously, it had been crippled with what seemed like annual spring write-downs on bombs such as "Prince of Persia" (2010), "Mars Needs Moms" (2011), and "John Carter" (2012).

The Burbank, California-based company said net income in the three months through June 28 increased to $2.25 billion, or $1.28 per share, from $1.85 billion, or $1.01 per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $1.17 per share.

The company said revenue climbed 8 percent to $12.47 billion from $11.58 billion in the same quarter a year ago, beating Wall Street forecasts. Analysts expected $12.16 billion, according to Zacks.

Time Warner 2Q profit rises 11 percent

Time Warner Inc. on Wednesday reported net income that increased by 11 percent in its second quarter, and topped analysts' expectations.

The Manhattan-based company said profit increased to $850 million, or 95 cents per share, from $771 million, or 81 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, were 98 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The company said revenue rose 3 percent to $6.79 billion from $6.61 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $6.97 billion, according to Zacks.

Last year's results have been adjusted to reflect Time Inc. as discontinued operations. Time Warner spun off that business in June.

AOL 2Q profit drops 1.1 percent

AOL Inc. on Wednesday reported its net income declined by 1.1 percent in its second quarter, but its adjusted earnings beat analysts' expectations.

The Manhattan-based company said profit dropped to $28.2 million, or 34 cents per share, from $28.5 million, or 35 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, were 45 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The Internet company said revenue climbed 12 percent to $606.8 million from $541.3 million in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $593.6 million, according to Zacks.

Chesapeake Energy 2Q profit drops 68 percent

Chesapeake Energy Corp. on Wednesday reported net income that declined by 68 percent in its second quarter, and missed analysts' expectations.

The Oklahoma City-based company said its net income after preferred stock dividends fell to $145 million, or 22 cents per share, from $457 million, or 66 cents per share, in the same quarter a year ago.

Earnings, adjusted for one-time gains and costs, came to 36 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The natural gas company said revenue rose 10 percent to $5.15 billion from $4.68 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $1.73 billion, according to Zacks.