Disney profits up 18% fourth quarter
The Synergy between ESPN Sports channel and it's TV syndicate appears to have boosted fourth quarter profits to 18% at the Walt Disney Co.
While the delayed global recovery appears to be easing, businesses globally are reporting a level fiscal fourth quarter in an environment that is extremely challenging.
Despite a bear market, Disney Burbank California reported revenues increased by 4% to $9.9 billion while earnings hit $895 million in the third quarter compared to $760million the same time last year.
Although profit margins decayed 17% down $344 million at parks and resorts, attendance remained propped up. Netting just $3.3 billion for the year, down 25%, while sales fell 4% to $36.1 billion, resulting from the bear-like market.
Since bookings continue to be closer to the date of travel, Disney struggles to predict a full recovery to its theme-parks.
Between the 3% decrease at Orlando offset by a 15% increase of attendance at Disneyland exceeded the predictions by analysts over a year ago.
Sustained discounts that propped up attendance but generated losses in merchandise, food, and hotel rooms has no real end in sight according to executives.
Disney expects to lag behind the recovery just has it lagged behind with resilience at the beginning of the downturn.
One of the weakest links in Disney's division was its movie studio which underperformed other divisions plunging 84% to $175 million. Likewise other under- performing DVD's included Shopaholic, Bedtime Stores, and G-Force.
Amidst the bad news, Disney has high expectations for its media networks including ESPN and the ABC family, provoking operating profits to increase marginally.
While the delayed global recovery appears to be easing, businesses globally are reporting a level fiscal fourth quarter in an environment that is extremely challenging.
Despite a bear market, Disney Burbank California reported revenues increased by 4% to $9.9 billion while earnings hit $895 million in the third quarter compared to $760million the same time last year.
Although profit margins decayed 17% down $344 million at parks and resorts, attendance remained propped up. Netting just $3.3 billion for the year, down 25%, while sales fell 4% to $36.1 billion, resulting from the bear-like market.
Since bookings continue to be closer to the date of travel, Disney struggles to predict a full recovery to its theme-parks.
Between the 3% decrease at Orlando offset by a 15% increase of attendance at Disneyland exceeded the predictions by analysts over a year ago.
Sustained discounts that propped up attendance but generated losses in merchandise, food, and hotel rooms has no real end in sight according to executives.
Disney expects to lag behind the recovery just has it lagged behind with resilience at the beginning of the downturn.
One of the weakest links in Disney's division was its movie studio which underperformed other divisions plunging 84% to $175 million. Likewise other under- performing DVD's included Shopaholic, Bedtime Stores, and G-Force.
Amidst the bad news, Disney has high expectations for its media networks including ESPN and the ABC family, provoking operating profits to increase marginally.
posted by michael at
9:04 AM
