Disney Theme Parks Come to the Rescue
A silver lining in Walt Disney's (NYSE: DIS) otherwise unimpressive quarterly report last week was the performance of its theme parks. Of the media giant's four segments, its parks and resorts division was the only one to post year-over-year revenue growth in its fiscal fourth quarter. It was also the only segment to push its operating profit higher.
Disney's theme parks came through with a 6% increase in revenue and a 7% gain in operating profit for the fourth quarter. It was also Disney's only segment to post positive revenue and operating profit for all of fiscal 2017.
The segment's results could've actually been better. Disney's domestic theme parks experienced a 2% uptick in attendance, and that was with Hurricane Irma-related closures and its hotel occupancy rate declining from 87% to 84%. The House of Mouse estimates that attendance would've clocked in 5% higher if not for the September windstorm disrupting Disney World.
Source: Fool.com
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