slottedpig
02-05-2013, 11:21 PM
Disney released 4th quarter earnings after the markets closed today. The Media Division is still the biggest in both revenue and profit:
Division Revenue Earnings
Media 5.1 Billion 1.2 Billion
Parks 3.4 Billion 577 Million
Studio 1.5 Billion 234 Million
Consumer Products 1.0 Billion 346 Million
Interactive 291 Million 9 Million
Commentary from the news release on the Parks division:
Parks and Resorts revenues for the quarter increased 7% to $3.4 billion and segment operating income increased 4% to $577 million. Results for the quarter were driven by an increase at our domestic operations, partially offset by a decrease at our international operations.
Higher operating income at our domestic operations was primarily due to increased guest spending at both Walt Disney World Resort and Disneyland Resort, the addition of the Disney Fantasy cruise ship which launched in March 2012, attendance growth at Disneyland Resort, and higher occupied room nights at Walt Disney World Resort. These increases were partially offset by higher operating costs and lower average cruise ship ticket prices driven by a cruise itinerary out of a new port location for the Disney Magic. Increased guest spending reflected higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending. Higher operating costs were due to resort expansion and new guest offerings, including the addition of the Disney Fantasy and investments in systems infrastructure at Walt Disney World Resort, as well as labor and other cost inflation.
So basically revenue at the parks was up 7% over the same quarter last year driven by price increases and the launch of the Fantasy.
Capital spending at the domestic parks actually fell from the prior year ( $242 million down from $358 million.) Commentary on this was:
Capital expenditures decreased from $634 million to $545 million driven by a decrease at domestic Parks and Resorts, partially offset by an increase at international Parks and Resorts. The decrease at our domestic Parks and Resorts was primarily due to lower spending for resort expansion and new guest offerings at Disneyland Resort and Walt Disney World Resort as compared to the prior-year quarter which included Cars Land and Disney's Art of Animation. The increase at our international Parks and Resorts was due to construction costs at Shanghai Disney Resort, partially offset by decreased spending on the resort expansion at Hong Kong Disneyland Resort.
Division Revenue Earnings
Media 5.1 Billion 1.2 Billion
Parks 3.4 Billion 577 Million
Studio 1.5 Billion 234 Million
Consumer Products 1.0 Billion 346 Million
Interactive 291 Million 9 Million
Commentary from the news release on the Parks division:
Parks and Resorts revenues for the quarter increased 7% to $3.4 billion and segment operating income increased 4% to $577 million. Results for the quarter were driven by an increase at our domestic operations, partially offset by a decrease at our international operations.
Higher operating income at our domestic operations was primarily due to increased guest spending at both Walt Disney World Resort and Disneyland Resort, the addition of the Disney Fantasy cruise ship which launched in March 2012, attendance growth at Disneyland Resort, and higher occupied room nights at Walt Disney World Resort. These increases were partially offset by higher operating costs and lower average cruise ship ticket prices driven by a cruise itinerary out of a new port location for the Disney Magic. Increased guest spending reflected higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending. Higher operating costs were due to resort expansion and new guest offerings, including the addition of the Disney Fantasy and investments in systems infrastructure at Walt Disney World Resort, as well as labor and other cost inflation.
So basically revenue at the parks was up 7% over the same quarter last year driven by price increases and the launch of the Fantasy.
Capital spending at the domestic parks actually fell from the prior year ( $242 million down from $358 million.) Commentary on this was:
Capital expenditures decreased from $634 million to $545 million driven by a decrease at domestic Parks and Resorts, partially offset by an increase at international Parks and Resorts. The decrease at our domestic Parks and Resorts was primarily due to lower spending for resort expansion and new guest offerings at Disneyland Resort and Walt Disney World Resort as compared to the prior-year quarter which included Cars Land and Disney's Art of Animation. The increase at our international Parks and Resorts was due to construction costs at Shanghai Disney Resort, partially offset by decreased spending on the resort expansion at Hong Kong Disneyland Resort.