jcb
always emerging from hibernation
- Joined
- Apr 28, 2007
Disney has just released its 2nd quarter earnings for FY 2012. I won't say too much about it now (I'm waiting on the conference call) but revenue and "operating income" (net earnings) are up significantly, but note that these do not break out revenue/net earnings domestically and internationally.
Parks and Resorts revenues for the quarter increased 10% to $2.9 billion and segment operating income increased 53% to $222 million. Results for the quarter were driven by increases at our domestic parks and resorts, Tokyo Disney Resort and Hong Kong Disneyland Resort, partially offset by a decrease at Disneyland Paris.
Higher operating income at our domestic parks and resorts was driven by
increased guest spending and attendance, partially offset by increased costs.
Increased guest spending reflected higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending. Higher costs were driven by labor cost inflation, resort expansion and new guest offerings, volume-related cost increases, and increased investments in systems infrastructure. The increase at Tokyo Disney Resort reflected the loss of income in the prior year quarter from the March 2011 earthquake and tsunami in Japan, which resulted in a temporary suspension of operations, and the collection of related business interruption insurance proceeds in the current-year quarter. The increase at Hong Kong Disneyland Resort was due to higher guest spending and attendance. The decrease at Disneyland Paris was due to lower attendance and labor cost inflation.