Disney’s profits have risen by an impressive 22 per cent. The profits have shot up largely because its movies and theme parks have proved popular with consumers.
Disney ha managed to hold on to its margins and increase its profits inspite of fears of an impending economic slowdown. After coming up with good numbers, Disney elaborated it earned nearly $1.13bn or £0.6bn in the three months (ended 29 March), compared with $931m earned a year earlier.
A weakened dollar helped spur visits to its US theme parks from overseas. Its studio revenue increased 18 per cent, with ‘Hannah Montana/Miley Cyrus: Best of Both Worlds’ and ‘National Treasure 2: Book of Secrets’ scoring with fans.
Analysts had expected the weak US economy and falling consumer spending might have a negative effect on Disney theme parks, but the firm declared its parks and resorts revenue increased 11 per cent to $2.7bn. Attendance and spending at Disney’s Paris and Orlando parks gained from an Easter holiday, which fell in the reporting period, the firm said.