Disney reports strong earnings thanks to ‘Frozen’ and theme parks
Disney held their Q1 conference call reporting record theme park attendance and of course, sales of Frozen toys and clothing.
The company reported revenues of $13.4 billion — a 9 percent increase compared with the previous year. Earnings per share jumped 23 percent to $1.27 which beat the estimates of $1.07.
“Fiscal 2015 is off to a great start as we delivered another strong quarter of financial results,” Chief Financial Officer Jay Rasulo said during the conference
Both Disneyland and Walt Disney World reported record attendance numbers with an increase in 7% compared to last year.
Disney hotels also saw an increase in numbers, reporting capacity at 89 percent, compared with 81 percent the previous year.
Thanks largely in part to Frozen, consumer products revenue increased 22 percent to $1.4 billion. Most likely due to the hundreds of thousands of Elsa dresses sold.
The company reported a a decrease in operating income for their parks overseas, this is most likely due to the higher than forecasted cost of Shanghai Disney Resort, which has now been delayed until mid-2016.
via Orlando Sentinel