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Improved park performance supports Walt Disney Company's Q3 growth

By Pete Hayman    13 Aug 2012

Image: Visitor spend was up at Walt Disney World

A 9 per cent growth in revenues at Walt Disney-branded theme parks and resorts during the third quarter have fuelled an overall increase in the company's earnings for the period.

The group's parks and resorts division reported revenues of US$3.4bn (EUR2.8bn, £2.2bn) for the three months to 30 June, compared with US$3.2bn (EUR2.6bn, £2bn) last year.

According to the Walt Disney Company, the results for the parks and resorts operations were driven by increases at Japan's Tokyo Disney Resort, Disney Cruise Line and US attractions.

However, growth at Tokyo Disney Resort reflected a loss of income incurred when the theme park was temporarily closed after the March 2011 earthquake and tsunami in Japan.

Meanwhile, increased visitor spend contributed to the improved performance at Walt Disney World Resort and Disneyland Resort, as well as higher attendances at Disneyland Resort.

Walt Disney Company chair and CEO Robert A Iger said: "We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company.

"We also delivered record earnings per share for the first nine months of our fiscal year, and we believe our results clearly demonstrate Disney's unique value proposition and great potential to deliver long-term growth."

Click here for more information about the Walt Disney Company's Q3 growth.

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