Disney reports fourth quarter earnings for 2018

The Walt Disney Company today has reported positive fourth quarter and full year earnings for the fiscal year ending September 29, 2018 – with theme parks reporting growth.

Revenue from Parks and Resorts for the quarter increased 9% to $5.1 billion. Income growth for the quarter was attributed to an increase at domestic operations, and also the adverse impact of Hurricane Irma, which occurred in the same quarter last year.

Disney also reported higher operating income at their domestic locations. This was attributed to increased guest spending and attendance, partially offset by increased costs. Guest spending growth was due to increases in average ticket prices.

New additions spearheaded Disney’s ongoing growth, including Toy Story Land at Hollywood Studios and last year’s Pandora: the World of Avatar at Animal Kingdom.

International parks

Operating income at international parks and resorts was comparable to the prior-year quarter. Growth at Disneyland Paris and Hong Kong Disneyland Resort was offset by a decrease at Shanghai Disney Resort.

Disneyland Paris saw an increase in average ticket prices and Hong Kong Disneyland Resort saw higher occupied rooms and attendance growth, partially offset by cost inflation. Shanghai Disney Resort had lower average ticket prices but experienced increased attendance.

Robert A. Iger, Chairman and Chief Executive Officer, said: “We’re very pleased with our financial performance in fiscal 2018, delivering record revenue, net income and earnings per share. We remain focused on the successful completion and integration of our 21st Century Fox acquisition and the further development of our direct-to-consumer business, including the highly anticipated launch of our Disney-branded streaming service late next year.”