The Walt Disney Company Releases Fourth Quarter and Full Year Earnings for Fiscal 2014
The report showed an 8 percent increase in revenue to a record $48.8 billion and a 22 percent increase in income to a record $47.5 billion.
“Our results for Fiscal 2014 were the highest in the company’s history, marking our fourth consecutive year of record performances,” said Bob Iger, Chairman and CEO of The Walt Disney Company, in a press release.
The company’s media networks revenue increased 5 percent to $5.2 billion. Operating income at the cable networks decreased by $10 million to $1.3 billion due in part to higher programming costs.
The Parks and Resorts revenue increased 7 percent to $4 billion while operating income increased 30 percent to $687 million for the quarter. Operating income growth for the quarter was due to an increase in the domestic operations.
Higher operating income was due to increased guest spending and attendance and was partially offset by higher costs and lower vacation club ownership.
Studio entertainment increased 18 percent to $1.8 billion and higher worldwide theatrical distribution results were due to the success of Maleficent and Guardians of the Galaxy, compared to Monsters University and The Lone Ranger in the previous year quarter.
The popular plush Tsum Tsum toys led to an increase in Interactive segment operating income to $18 million. As a whole, the Interactive segment saw a decrease of revenue for the quarter of $34 million.