Disney 2Q profits up 21%

[davidm]

http://www.ibtimes.com/articles/338721/ ... -up-21.htm

http://mediadecoder.blogs.nytimes.com/2 ... y-profits/

From the horses mouth; http://thewaltdisneycompany.com/investo ... n/earnings

Most interesting was this;

Meanwhile, profits in the theme-park division jumped 53 percent, rising to $222 million from $145 million last year.

Not sure when their financial quarters run from tho, and whether that parks figure was a full years numbers?

Edit : slightly better quote from the Disney press release itself

Parks and Resorts

Parks and Resorts revenues for the quarter increased 10% to $2.9 billion and segment operating income increased 53% to $222 million. Results for the quarter were driven by increases at our domestic parks and resorts, Tokyo Disney Resort and Hong Kong Disneyland Resort, partially offset by a decrease at Disneyland Paris.

Higher operating income at our domestic parks and resorts was driven by increased guest spending and attendance, partially offset by increased costs. Increased guest spending reflected higher average ticket prices, daily hotel room rates and food, beverage and merchandise spending. Higher costs were driven by labor cost inflation, resort expansion and new guest offerings, volume-related cost increases, and increased investments in systems infrastructure.

The increase at Tokyo Disney Resort reflected the loss of income in the prior-year quarter from the March 2011 earthquake and tsunami in Japan, which resulted in a temporary suspension of operations, and the collection of related business interruption insurance proceeds in the current-year quarter. The increase at Hong Kong Disneyland Resort was due to higher guest spending and attendance. The decrease at Disneyland Paris was due to lower attendance and labor cost inflation.

 

[peep]

If anyone wants more details on why Disneyland Paris decreases the results a bit the following link goes into full detail about the resort's financial release. LINK

 

[Mark]

Not the best news to be honest.

I honest thought that Dreams was a sign of things to come in at least they were beginning to step in the right direction. If they have no money to continue in that direction it is a little worrying. There were some operational flaws on our recent visit (lack of characters/non working theming and so on) and this may go some way to explain it.

I have always had mixed feelings about DLP. On one hand I think it is easily the most beautiful of the parks. On the other, it lacks that last little touch that I have found in Cali and Florida. I thought that Dreams was a step in attaining that. I've always viewed it as a nice little stop gap or a fix until I can get to the states again. No matter what though, the last thing I would want to see is the place go under or anything that extreme. I dont think it is anywhere near that serious yet though, thankfully. Judging by that link you posted peep, there is some very serious conversations going to be happening to get this sorted.

IF (and it is a very big if) the park was truly on the brink of colapse I would imagine that Disney would step in to protect the company image as a whole, so I am not too worried about that. I have always hoped that Disney would take full control anyways, so perhaps this might lead to Disney acquiring more shares at the very least.

I certainly agree with the article that peep posted with regards to the WDS park a massive overhaul is needed, like DCA style overhaul.

Fingers crossed that a resolution is reached soon.