Theme park and cruises lift quarterly bottom line for Disney
Higher attendance at its overseas theme parks and cruise lines as well as growth in the rates that cable and satellite companies pay to carry ESPN helped drive growth for Walt Disney Co. last quarter.
Revenue at the Burbank media giant -- which also has major operations in Glendale -- increased 3% to $10.8 billion in the three-month period ended Sept. 29, its fiscal fourth quarter, while net income increased 11% to $2.3 billion.
The company behind Mickey Mouse, “Toy Story” and “The Avengers” managed that increase despite revenue declines in its movie and interactive businesses.
For the full fiscal year, Disney’s revenue grew 3% to $42.3 billion and net income rose 18% to $5.7 billion, both records for the company.
“It was a great year for Disney by any measure: creatively, financially and strategically,” said Chief Executive Bob Iger.
-- Ben Fritz, Los Angeles Times