EyeQ Tech review EyeQ Tech EyeQ Tech tuyển dụng review công ty eyeq tech eyeq tech giờ ra sao EyeQ Tech review EyeQ Tech EyeQ Tech tuyển dụng crab meat crab meat crab meat importing crabs live crabs export mud crabs vietnamese crab exporter vietnamese crabs vietnamese seafood vietnamese seafood export vietnams crab vietnams crab vietnams export vietnams export

Breaking News

Russia launched intercontinental ballistic missile during attack on Ukraine, Kyiv says
Business

Disney parks drawing big crowds despite price hikes

By
Alexandra Steigrad
Published Feb. 6, 2018, 9:37 p.m. ET

America still loves its Disney theme parks — even as the Mouse House jacked up prices.

The entertainment giant said Tuesday operating profits soared 21 percent at its Parks and Resorts unit in the three months ended Dec. 30 — on a 13 percent increase in revenue.

The strength of its parks offset weakness at ESPN, its Hollywood studio, its consumer-products unit and its broadcast network — each of which saw profits decline.

The power of Disney parks — where attendance was up despite increases in ticket prices and hotel room rates — helped the company beat Wall Street profit estimates.

Disney shares were up as much as 2.9 percent in after-hours trading — after closing the regular session at $106.17, ahead 1.4 percent.

The company is buying the majority of Twenty-First Century Fox assets for $52.4 billion.

Disney Chairman and Chief Executive Bob Iger told investors that the “regulatory process” to gain approval of the Fox deal is under way.

If the deal is approved, the Fox assets will allow Disney to “deliver more content,” expand direct-to-consumer plans and “diversify its businesses geographically,” Iger said.

Meanwhile, Disney continues its slow turn toward a streaming, subscription model.

In the spring, Disney is expected to launch its direct-to-consumer $4.99-a-month ESPN app.

Disney is hoping that the new product will help stem subscriber declines and advertising losses.

In the fiscal first quarter, ESPN’s ad revenue fell 11 percent, contributing to weakness in the company’s media networks division, which logged a 12 percent decline in operating income on flat sales of $6.24 billion.

Hulu, of which Disney owns 30 percent, brought in revenue of $50 million in the quarter, less than half the year-earlier level of $119 million.

At its studios, Disney reported both operating profits and revenue dropped slightly — despite the December launch of the latest “Star Wars” franchise, which has logged $4.4 billion in box-office sales.

Iger cited the latest franchise addition, “Solo: A Star Wars Story,” set to hit theaters this summer — as well as upcoming releases like “Avengers: Infinity War” and “A Wrinkle in Time” as green shoots for the company.

Overall. net income in the fiscal first quarter at the Burbank, Calif., company rose 78.4 percent, to $4.42 billion, or $2.91 a share.

Adjusted EPS totaled $1.89.

Revenue ticked up 3.8 percent, to $15.35 billion, versus $14.78 a year earlier.

Analysts expected EPS of $1.61 on revenue of $15.45 billion.