“Earnings per share were up 31 percent over last year, driven by growth in every one of our businesses," Walt Disney Chairman and CEO Robert A. Iger said. "We also delivered record earnings per share for the first nine months of our fiscal year, and we believe our results clearly demonstrate Disney’s unique value proposition and great potential to deliver long-term growth."Parks and Resorts revenues for the quarter increased 9 percent to $3.4 billion, driven by increases at Tokyo Disney Resort, Disney Cruise Line, Disney World and Disneyland.
According to the earning report: The increase at Tokyo Disney Resort reflected the loss of income from the March 2011 earthquake and tsunami in Japan, which resulted in a temporary suspension of operations and a reduction in volume after reopening in the prior-year quarter, and the collection of related business interruption insurance proceeds in the current-year quarter.
Operating income growth at Disney Cruise Line was due to the first full quarter of operations of the Disney Fantasy.
In the U.S., both the Disney World and Disneyland resorts saw increased guest spending due to higher average ticket prices, food, beverage and merchandise spending, and daily hotel room rates. Higher costs were driven by labor cost inflation, resort expansion (Cars Land in Disneyland and the New Fantasyland in Disney World) and new guest offerings, and increased investments in systems
infrastructure at Walt Disney World Resort.
Operating income at Cable Networks increased $14 million to $1.9 billion for the quarter due to growth at the domestic Disney Channels and ABC Family, partially offset by a decrease at ESPN.
And the movie business did well thanks to the well-publicized success of "The Avengers" and "Brave."
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