The Walt Disney Company has reported quarterly earnings of $2.6bn for Q3 2016, an increase of $114m over the prior-year quarter.
Parks and Resorts revenues for the quarter increased six per cent to $4.4 billion, while Studio Entertainment revenues for the quarter increased 40 per cent to $2.8 billion thanks to the strong performances of Captain America: Civil War, The Jungle Book, Finding Dory and Alice Through the Looking Glass compared to 2015’s Avengers: Age of Ultron, Cinderella, Inside Out and Tomorrowland.
While it was a strong period for parks and movies, Disney saw a revenue decrease of one percent for consumer products and interactive media in Q3 2016.
The firm attributed the decrease in consumer products revenue to the exceptional performance of Frozen merchandise last year, an unfavorable impact from foreign currency translation, an increase in revenue share with the Studio Entertainment segment and higher marketing costs.
These decreases were partially offset by revenue growth from merchandise based on Finding Dory/Finding Nemo and Star Wars.
“Disney delivered another quarter of double-digit EPS growth, and we are thrilled with our continued performance,” said Robert A. Iger, chairman and chief executive officer, The Walt Disney Company.
“Our results are evidence that our asset mix is strong, as is our ability to execute in ways that enhance the Disney brand and create value for our shareholders while we invest for future growth.”