Despite poor Q2 results, the new Disney Dream is almost booked out until October. WALT DISNEY CO REPORTED A RARE DROP IN PROFIT during the first three months of the year, but is buoyed by the performance of its latest ship. Revenue and profit at Disney’s television networks ESPN and...
Despite poor Q2 results, the
new Disney Dream is almost
booked out until October.
WALT DISNEY CO REPORTED A RARE DROP IN PROFIT
during the first three months of the year, but
is buoyed by the performance of its latest ship.
Revenue and profit at Disney’s television
networks ESPN and ABC grew, but film
studio profits dropped US$70 million after its
latest movie, ‘Mars Needs Moms’ bombed at
the box office.
Net income for the three months ending
02 Apr fell to US$942 milllion, or 49 cents
per share, from $953 million, or 48 cents per
share, a year earlier.
Disney executives also blamed the impact
of Japan’s earthquake, which closed down its
theme park in Tokyo, the late Easter, and the
US$20 million cost of launching Disney
Dream, the line’s first new vessel in more
than a decade.
But cruise bookings are “very strong”, CEO
Bob Iger told Wall Street analysts.
Disney Cruise Line’s three ships are more
than 95% booked for the current quarter (Apr
– Jun), 86% booked for the next quarter (Jul
– Sep) and almost 60% booked for the first
quarter of 2012.
Iger said these figures were “pretty
interesting, given the fact that the new ship
has 4,000 guests on it.”
“We added a significant amount of inventory
and bookings are very strong,” he said.
Disney also reported lower operating income
at the cruise line for the second quarter as
compared to the same quarter a year ago.
The company cited higher fuel costs as well
as an increase in both its operating and
promotional costs driven by the launch of the
Disney Dream.
