The Walt Disney Company reported their earnings on Tuesday for the third quarter (Q3) of fiscal year 2014 which ended on June 28, 2014. According to Bob Iger, The Walt Disney Company’s strategy of building strong brands and franchises continues to create a great value across the company. This was a record setting quarter.
The Parks and Resorts segment (which includes Disney Cruise Line) saw revenue increase for the quarter 8% to $4 billion with income up 23% to $848 million. Growth for the quarter was driven by an increase in Disney’s domestic operations and was offset by a decrease at Disneyland Paris. The quarter also saw a favorable increase due to the shift in the Easter holiday to Q3. Higher income in domestic operations was due to increased guest spending and higher attendance which was offset by higher costs partially attributed to MyMagic+. Guest spending growth reflected higher average ticket prices for admission and for Disney Cruise Line sailings. An increase in guest spending on food, beverage and merchandise was also a factor this quarter.
During the conference call, Iger mentioned there would be an announcement next year about a significant Star Wars presence coming to the Disney Parks.
For more information and an overall report click over to the Q3-2014 Earnings Report.