Disney posts a strong first fiscal quarter for 2014
The Walt Disney Company has announced that its income grew by 6% to nearly $3.6 billion. Their first fiscal quarter of 2014 ended on December 28. Operating income for the theme parks rose 16 percent to $671 million. Disney took in a total of $12.3 billion in revenue for first three months of its 2014 fiscal year. That is up a total of 9% compared to last year.
“We had an incredibly strong first quarter, delivering a 32% increase in adjusted earnings per share and double-digit increases in operating income in all business segments. These results reflect the strength of our unprecedented portfolio of brands, a constant focus on creativity and innovation, and the continued success of our long-term strategy,” said Bob Iger, Disney chairman and CEO.
The increase in revenue is mainly due to the rise in ticket sale priced and increased sales in merchandise and food.
Disney invested $539 million into their parks and resort to start of the fiscal year. A big piece of that is the nearly complete Seven Dwarfs Mine Train roller coaster set to open later this year at the Magic Kingdom at Walt Disney World.