The Walt Disney Co. has released their financial report for the third quarter of the fiscal year. Theme park revenue was up 5.1 percent to $4.1 billion. Year-to-date earnings were up 6.3 percent to $11.8 billion. Operating income came in at $922 million, which is an increase of 9 percent from the previous year. Quarterly earnings from the company were $13.1 billion, a 5 percent change from last year, which was $12.4 billion.
Attendance was at a record high at Walt Disney World for the time period, and profit was the highest it has been in any previous quarter. The report said, “Guest spending growth was due to higher food, beverage and merchandise spending, increases in average ticket prices at our cruise line and Disneyland Resort and higher average hotel room rates.
One place the company saw a decrease was in the interactive edition. A 22 percent decline in revenue may have been due to a drop in console-game catalog titles. The studio division had the potential to have higher numbers, but Tomorrowland did not have a good showing at the box office. Luckily, Avengers: Age of Ultron and Cinderella fared better, helping studio revenue increase 13 percent.
Chief Executive Officer Bob Iger said, “We’re very pleased with our performance” and described the numbers as “strong results across the board.”
News source: Orlando Sentinel
