Walt Disney Co. posts record earnings in year-end results

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The Walt Disney Co. released its fourth-quarter results for the fiscal year that ended Sept. 30, showing records in revenue, net income and cash flow.

The media networks division was the biggest earner for the year and also showed the highest growth, showing $14.6 billion in revenue, up 11% over the previous year.

Parks and resorts was the second highest producing segment, coming in at $9.9 billion in revenue, a 10% rise over the previous year.

The studio entertainment segment, made up of theatrical release films and home entertainment, dropped slightly in revenue from $7.59 billion to $7.53 billion.

And consumer products produced $2.2 billion in revenue, up 3% from the year before.

With regard to operating income, the fastest growing segment was studio entertainment, which more than doubled from $207 million to $729 million for the year. Parks & Resorts grew 30% year-over-year from $1.2 billion to $1.5 billion.

According to Disney, the growth in the parks and resorts division was due to increased guest spending, theme park attendance and hotel occupancy and higher sales through the Disney Vacation Club. The growth, however, was partly offset by increased operating costs.

To contact reporter David Cogswell, send e-mail to [email protected].

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