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Operating income for Disney's theme parks and

resorts up 21% for the third quarter

Update : 15/08/12 - 10h59 Published by François Mayné the 13 August 2012, Corporate.

The Walt Disney Company reported last week the earnings for its third fiscal quarter and nine months ended June 30, 2012.

Revenues for the third quarter amounted to $11.088 million (approx €9.02 billion) up 4% compared to the same period of previous fiscal year while the net income increase 24% to $1.831 billion (approx €1.5 billion). For the nine months ended, revenues are up 3% to $31.496 billion (approx €25.62 billion) and net income up 19% to $4.438 billion (approx €3.61 billion).

This performance is once again driven by excellent results of theme parks and resorts segment. Revenues for the quarter indeed increased 9% to $3.4 billion (approx €2.6 billion) and segment operating income increased 21% to $630 million (approx €512.5 million). For the nine months ended, revenues are up 4% to $9.495 billion (approx €7.7 billion) and operating income up 19% to $1.4 billion (approx €1.1 billion).

The Walt Disney Company explains this result by increase of activities at Tokyo Disney Resort (which had been penalized in 2011 by the consequences of the earthquake and tsunami with closing down both theme parks and facilities for several weeks) and Disney Cruise Line due to the first full quarter of operations of the new cruise ship Disney Fantasy.

The domestic resorts of Walt Disney World (Florida) and Disneyland (California) also perform well with increased guest spending (due to higher average ticket prices, food, beverage and merchandise spending, and daily hotel room rates) and attendance growth (at Disneyland Resort), partially offset by higher costs (labor cost inflation and new developments).

New Fantasyland (Magic Kingdom, Walt Disney World Resort)

Cars Land (Disney California Adventure, Disneyland Resort)

Disney's theme parks and resorts activities have been particularly busy in the third quarter with the opening of the themed areas Cars Land at Disney California Adventure (Disneyland Resort), Grizzly Gulch at Hong Kong Disneyland or the expansion of the new Fantasyland at Magic Kingdom (Walt Disney World Resort). The group is also preparing for the future with the development of Shanghai Disney Resort in China.

“We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company,” said Robert A. Iger, Chairman and CEO of The Walt Disney Company. “Earnings per share were up 31% over last year, driven by growth in every one of our businesses. We also delivered record earnings per share for the first nine months of our fiscal year, and we believe our results clearly demonstrate Disney’s unique value proposition and great potential to deliver long-term growth.”

Walt Disney Parks & Resorts - Walt Disney World Resort - Disneyland Resort - Tokyo Disney Resort - Disney Cruise Line -

Written by François Mayné

François Mayné Publishing Director » Contact Us
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