Disney up 21%, 'Hannah Montana', 'Robinsons' boost revenue
Disney profits up 21% in 2nd quarter
'Hannah Montana', 'Robinsons' boost revnue
Disney rode the success of pics including 'Enchanted'
to $377 million in studio entertainment profit in the second quarter.
By Dade hayes
May 6, 2008
full article at:
Disney's streamlined film strategy is starting to pay off.
The conglom reported stellar fiscal second-quarter results propelled by the studio division and surprisingly healthy theme-park numbers. Operating profit from all segments rose 21%, and revenue increased 10% over the year-earlier period. Income from continuing operations increased 22% to $1.1 billion.
Of total revenue of $8.7 billion in the quarter ended March 29, $2.4 billion was recorded as operating profit by the conglom's four units. Only consumer products saw operating profit decline, off 14% despite a 10% rise in revenue.
Although Disney has recently emphasized the company's efforts in growing its consumer products biz, cruise lines and other non-Hollywood operations, it was the core business of movies and television that burnished the Mouse's earnings report.
Studio entertainment profit soared 61% to $377 million, due partly to favorable comparisons with the year-earlier period, when it ran up a hefty marketing and distribution tab for March 2007 release "Meet the Robinsons." Also in the quarter came a surprising B.O. showing for the studio's "Hannah Montana/Miley Cyrus: Best of Both Worlds" concert pic.
Re: Disney up 21%, 'Hannah Montana', 'Robinsons' boost revenue
LA Times also had a good article this morning in the business section.
Things I found interesting in the LA Times article: (1) Parks and Resorts division had revenue of $2.73 billion, (2) a 26% jump in international travelers due to weak dollar, and (3) about 75% of the hotel rooms are deemed "moderate or value priced" (as compared to 55% in 1991).