Walt Disney Co.’s Parks and Resorts division reported a 7% increase in first-quarter sales to $3.4 billion and a 4% increase in operating income to $577 million, driven in large part by growth at the domestic parks, the company reported Tuesday.
The lift was due to higher guest spending at the Walt Disney World Resort in Florida and the Disneyland Resort in Southern California. The segment was also bolstered by the launch of the Disney Fantasy cruise ship in March 2012.
“We’re definitely seeing stronger results in California from the rather significantly changed California Adventure,” Disney CEO Bob Iger said on the company’s first quarter earnings call on Tuesday.
Iger said the company has seen “dramatic increases” in attendance, guest spending and pricing at the Disneyland Resort since the unveiling of Cars Land at California Adventure in June.
The company reported lower results at its international properties, due in part to higher labor costs at Disneyland Paris and start-up costs at Shanghai Disney Resort.
Overall, Walt Disney Co. reported a 5% increase in revenue to $11.3 billion for the quarter ended Dec. 29, 2012. Net income slipped 6% to $1.4 billion.
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