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Disney Quarterly Earnings
Largest Quarterly Earnings in its History
August 14, 2012 - Coasterholic14
Orlando, Florida -
© Walt Disney Co.Financial results from major chains are all pouring out and being announced now in early August, a month after the end of the second financial quarter. Following on the heels of our announcement of Cedar Point’s record results, Disney has reported their “largest quarterly earnings in [their] history,” according to the Orlando Sentinel.
Keep in mind that the Walt Disney Co incorporates not only its amusement parks in Florida, California, and overseas, but also its movies. One of the company’s biggest hits was its box-office blockbuster hit this past summer, The Avengers. This year, the company is reporting a profit of over $1.8 billion during the third financial quarter, 24% more than this time last year. Revenue also climbed $11.1 billion, up 4% from last year. Disney President and CEO told the Orlando Sentinel, “We had a phenomenal third quarter.”
The source also reported that the global theme-park division saw a $630 million increase in profits, up approximately 21%, and a 9% increase in sales of $3.4 billion. Disney has attributed much of this to the opening of “Cars Land” in June at California Adventure, the launch of the Disney Fantasy Cruise ship, and Tokyo Disney successfully bouncing back after last year’s natural disasters.
California Adventure has been on a huge upswing as well, taking up nearly 50% of the California resort’s attendance, a figure closer to 25% in preceding years. Though Disney World apparently saw a slight dip in attendance, overall attendance at the combined US parks were up about 1% thanks to record growth this year in California. Per-capita spending of park guests also seemed to increase 8% for the quarter.
Between an ever-booming movie industry for Disney Co, its massively successful cruise line, massive growth at its California parks (mainly California Adventure), and continued stability at its parks as a whole worldwide, Disney continues to be in a very strong position in the industry.
© Walt Disney Co.
Keep in mind that the Walt Disney Co incorporates not only its amusement parks in Florida, California, and overseas, but also its movies. One of the company’s biggest hits was its box-office blockbuster hit this past summer, The Avengers. This year, the company is reporting a profit of over $1.8 billion during the third financial quarter, 24% more than this time last year. Revenue also climbed $11.1 billion, up 4% from last year. Disney President and CEO told the Orlando Sentinel, “We had a phenomenal third quarter.”
The source also reported that the global theme-park division saw a $630 million increase in profits, up approximately 21%, and a 9% increase in sales of $3.4 billion. Disney has attributed much of this to the opening of “Cars Land” in June at California Adventure, the launch of the Disney Fantasy Cruise ship, and Tokyo Disney successfully bouncing back after last year’s natural disasters.
California Adventure has been on a huge upswing as well, taking up nearly 50% of the California resort’s attendance, a figure closer to 25% in preceding years. Though Disney World apparently saw a slight dip in attendance, overall attendance at the combined US parks were up about 1% thanks to record growth this year in California. Per-capita spending of park guests also seemed to increase 8% for the quarter.
Between an ever-booming movie industry for Disney Co, its massively successful cruise line, massive growth at its California parks (mainly California Adventure), and continued stability at its parks as a whole worldwide, Disney continues to be in a very strong position in the industry.
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