Disney Reports Double-Digit Percent Revenue Increase for Parks, Resorts

For the quarter ended Dec. 29, the Walt Disney Co. reported a 25 percent drop in earnings, to $1.25 billion, compared with $1.68 billion the year prior.

However, earnings for last year’s first quarter were positively affected by one-time occurrences: the sale of E! Entertainment and Us Weekly magazine as well as the discontinued operation of the ABC Radio business. Excluding these items, earnings per share increased 29 percent.

The company reported an 11 percent increase in revenue for parks and resorts, to $2.77 billion, up from $2.49 billion. Operating income for parks and resorts for the first quarter was up 25 percent, to $505 million, compared with $405 million for the same quarter a year prior.

Gains in the parks and resorts businesses were attributed to income growth at Walt Disney World, Disneyland Resort Paris and Hong Kong Disneyland Resort.