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The Disneyland Report > Disney News > Walt Disney Company reports second quarter earnings, announces earnings per share increase of 27% Disney NewsWalt Disney Company reports second quarter earnings, announces earnings per share increase of 27%The Walt Disney Company has reported its earnings for its second quarter and six months ended April 2, 2005. Diluted earnings per share for the Walt Disney Company second quarter increased 27% to $0.33, compared to $0.26 in the prior-year quarter. For the six-month period, diluted earnings per share were $0.68, up 15% versus the $0.59 recorded in the prior-year period. "It is very gratifying to see our company continue to achieve impressive growth. The second quarter's strong results are the latest demonstration that, across the company, our management team continues to effectively execute on its strategic plans. As we anticipated, last year's tremendous momentum has continued into 2005, bringing us well on the way toward another year of double-digit earnings growth for our shareholders," said Walt Disney Company CEO Michael Eisner. Robert Iger, President, Chief Operating Officer, and Walt Disney Company CEO-elect attributed the growth to a resurgence in ratings for the company's ABC television division, the buildup to the worldwide celebration of Disneyland's 50th anniversary, and strong sales for the Disney and Pixar film The Incredibles. "These are just a few of the significant developments underway across the company that should help drive growth into the future and maintain Disney's position as one of the preeminent providers of entertainment for families around the world," Iger said. Revenues for Disney Parks and Resorts for the quarter increased 26% to $2.1 billion, while segment operating income increased 3% to 193 million. The consolidation of Euro Disney and Hong Kong Disneyland contributed $303 million of the increase in revenue and reduced operating income by $44 million. Excluding the consolidation impact, Walt Disney Company Parks and Resorts revenue grew $124 million, or 7%, and segment operating income increased $49 million, or 26%. The growth was primarily due to increases at Walt Disney World driven by higher guest spending and increased hotel occupancy. Increased guest spending at Walt Disney World reflected ticket price
increases and fewer promotional offers driven by increased product demand
reflecting the ongoing recovery in travel and tourism and the popularity
of Disney resorts as a travel destination. Source: Press Release Return to Disney News.
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