The Walt Disney Company Releases Third Quarter Earnings for Fiscal Year
The report showed that the company’s Parks and Resorts division had another successful quarter with revenues increasing 8 percent to $4 billion and operating income increasing 23 percent to $848 million.
The higher operating income was due to increased guest spending and higher attendance. The increase in guest spending was partially due to an increase in ticket prices, and increased spending for food and merchandise.
The Studio Entertainment division reported a 14 percent increase in revenue to $1.8 billion and operating income increased to $411 million from $201 million. The increases reflect the international box office success of Frozen, Captain America: The Winter Soldier, and Maleficent.
Disney’s Interactive division also reported a successful quarter, improving from a loss of $58 million to income of $29 million. This increase was due in part to increased sales of Disney Infinity in addition to the new Tsum Tsum and Frozen Free Fall mobile games.
During the third quarter report conference call Bob Iger also spoke about Disney’s plans to increase the presence of Star Wars in the domestic theme parks.