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Theme parks, ESPN ad sales expostulate Disney distinction expansion – USA Today

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Walt Disney pronounced Tuesday a quarterly distinction soared 32% on improving film studio finances, aloft promotion rates during ESPN and longer stays during a thesis park resorts.

The Burbank, Calif.-based media hulk pronounced Tuesday a net income for a mercantile second entertain rose 32% from a year ago to $1.51 billion as patron direct grew for scarcely all of a several business lines.

Earnings per share for a entertain were 83 cents for a 3 months finale Mar 30 vs. 63 cents in a year-ago period. Its practiced gain per share of 79 cents — adult 36%, incompatible special equipment — kick Wall Street expectations of 77 cents, according to Thomson Reuters.

Revenue for a entertain rose 10% to $10.55 billion.

“Our formula simulate a successful strategy, a strength of a brands and a value of a high-quality artistic content,” CEO Robert Iger pronounced in a statement.

All of Disney’s handling units, solely Interactive, reported year-over-year distinction gains. But a Interactive unit, that runs gaming and digital properties, did see a handling detriment slight 23% to $54 million on income of $194 million. Disney pronounced Monday that it has concluded to rise new Star Wars video games with Electronic Arts.

Disney’s thesis parks and resorts section reported a biggest distinction growth. With tourists staying some-more nights during a Disney resorts and a further of a Disney Fantasy journey ship, that launched in Mar 2012, a unit’s distinction rose 73% to $383 million. A burst in prices for food and drinks and opening tickets also pushed normal guest spending higher, ensuing in a 14% boost in a unit’s income to $3.3 billion.

Disney’s wire and promote networks — including ABC and ESPN — sojourn a largest income generators. The unit’s gain were adult 8% to $1.86 billion, as income rose 6% to $4.96 billion.

Advertising-rate increases during ESPN helped equivalent a 40% dump in a handling income of a broadcasting business, that includes ABC. Higher prime-time programming costs and a dump in promotion income during ABC contributed to a decline.

Disney’s film studio business returned to profitability on a clever opening of recently expelled cinema Oz a Great and Powerful and Wreck-it Ralph.

The studio’s knowledge of good happening could continue into a second quarter. Iron Man 3, from Disney’s Marvel Studios, grossed $174.1 million in a U.S. in a initial weekend of release. The movie, starring Robert Downey Jr., has brought in $678.9 million worldwide in only 10 days, according to Hollywood.com.

Last year’s big-name recover — John Carter, a sci-fi film set on Mars — mislaid $200 million and cost then-studio arch Rich Ross his job.

“The Disney appurtenance is churning out a advantages that come from bold collateral investments in a formidable widen from 2008 to 2011,” William Smead, CEO of Smead Capital Management, a shareholder in Seattle, told Bloomberg News.