The Walt Disney Company has reported earnings for its fourth quarter and fiscal year ending September 28th, 2013.
The Company has seen revenues for the year increased 7 per cent to a record $45.0 billion, while Net income for the year increased 8 per cent to a record $6.1 billion
“We’re extremely pleased with our results for Fiscal 2013, delivering record revenue, net income and earnings per share for the third year in a row,” said Robert A. Iger, chairman and CEO, The Walt Disney Company.
“It was another great year for the Company, both creatively and financially, and we remain confident that we are well positioned to continue our strong performance and drive long-term shareholder value.”
Studio entertainment revenues for the year increased 3 per cent to $6.0 billion
Key drivers of this revenue was the release of Wreck-It Ralph and Planes, with other significant titles mentioned by Disney being Iron Man 3, Monsters University and Oz: The Great and Powerful.
Consumer products revenues for the quarter increased 14 per cent to $1 billion and for the year, revenues increased 9 per cent to $3.6 billion.
Merchandise licensing helped to push the increase, driven by the performance of Disney Junior, Monsters University, Mickey and Minnie, Iron Man and Planes merchandise as well as the inclusion of Lucasfilm.
Parks and Resorts also helped Disney record revenue, and for the year, parksand resorts revenues increased 9 per cent to $14.1 billion.
The Studio stated that ‘operating income growth at our domestic parks and resorts was due to increased guest spending, attendance and occupied room nights, partially offset by higher costs’.
Increased guest spending was due to ‘higher average ticket prices, food, beverage and merchandise spending and average daily hotel room rates’.