The Walt Disney Company reported their earnings today for the second quarter (Q2) of fiscal year 2014 which ended on March 29, 2014. According to Bob Iger, The Walt Disney Company is pleased with the results this quarter, delivering double-digit increases in operating income across all of their businesses. This quarter was a record quarter for the company with the highest quarter earnings per share in the history for the house of mouse. Iger noted that the results and “continued strong performance reflects the strength of the Disney [our] brands, the quality of our content, and our unique ability to leverage creative success across the entire Company to drive value.”
The Parks and Resorts segment (which includes Disney Cruise Line) saw revenue increase for the quarter 8% to $3.6 billion with income up 19% to $547 million. The increase in operating income was driven by guest spending at Walt Disney World, and a higher attendance at Disneyland with an increase in occupied room nights at the resorts. Higher guest spending on tickets, merchandise as well as food & beverage at the domestic parks and resorts drove the quarterly growth. The prolonged roll out of MyMagic+, labor along with other cost inflations partially impacted the quarterly earnings. Internationally, it was noted that the guest spending and attendance were up at Hong Kong Disneyland while Disneyland Paris saw both lower spending and attendance.
Disney Cruise Line was not referenced in either the quarterly report, but we will update the article pending any additional information in the conference call. (update… nothing new to add following the call)
For more information and an overall report click over to the Q2-2014 Earnings Report.