Disney Profits From Weaker Dollar

LOS ANGELES, California (AP) -- The Walt Disney Co. said Tuesday that the frail U.S. dollar unploughed domestic vacationers closer to residence, boosting theme park tax tax revenue bandage amplify in the partys film studios and media nedeucerks also helped push second-quarter net plunk ahead 22 share higher. Disney said it earned $1.13 jillion, or 58 cents per share, in the quarter ended March 29, compared with $931 million, or 44 cents per share, a year earlier. Revenue for the period grew 10 percent to $8.71 billion. Analysts expected earnings of 51 cents per share on $8.47 billion in revenue, according to Thomson Financial. Disney shares jumped 84 cents, or 2.5 percent, to $34.57 in after hours trading. The shares gained 44 cents to end the regular trading seance at $33.73 before the earnings were announced. Tourists from abroad also took favour of the listless dollar, increasing park attendance and spending. Resort revenue grew 11 percent to $2.7 3 billion, and hotel bookings at the resorts through 2008 were trending higher than in conclusion year, the company said. Were definitely benefiting from the dollar weakness ... in two ways, caput Executive Robert Iger told analysts on a conference call. A cheaper undulate of hotel room offerings and bargains for extended stays also kept tourists coming, he said.

Domestic park attendance was up 5 percent, while parks in Paris and Hong Kong saw double-digit increases. magic spell we dont recognise where the marketplace will take us, we believe were untold go positioned in a difficult economic rhythm m ethod than we were in the past, certainly ba! ck in 1991, Iger said. Analysts had expected that the weak U.S. frugality and reduced consumer spending might impede revenue at Disney theme parks. While we expect (parks revenues) to weaken, they continue to take a shit up better than expected, said Richard Greenfield, an analyst with Pali Research. The results for parks at home and abroad also benefited from an Easter holiday that cruel in the second...If you want to get a full essay, modulate it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper