The Walt Disney Company's theme park division posted increased revenue and attendance in the second quarter of 2018, the company announced Tuesday.
- Disney's theme parks boost earnings report
- Revenue increased 13% to $4.9 billion
- Attendance rose 5% at U.S. theme parks
Revenue increased 13 percent to $4.9 billion.
Attendance at the company’s U.S. theme parks rose 5 percent in the quarter, with most of the growth coming from Walt Disney World. Most of that increase was due, in part, to the timing of the Easter holiday, which fell during the final week of the quarter.
"Our parks continue to drive growth through operational excellence and by effectively leveraging the extraordinary content being created by other business units to create fantastic experiences for our guests," CEO Bob Iger said in a statement.
Higher operating income at the parks was due to increased guest spending, according to Disney.
Disney World raised prices for tickets, annual passes and parking in February. Ticket prices also increased at Disneyland in California.
Disney is gearing up to open several new attractions in the next few years.
Toy Story Land is set to open June 30 in Disney's Hollywood Studios. Star Wars-theme lands currently under construction at Disney World and Disneyland are slated to open by the "end of calendar 2019," CEO Bob Iger said during an investors call. Other attractions on the way include a Guardians of the Galaxy roller coaster at Epcot, a Tron ride at Magic Kingdom, Pixar Pier and a Marvel-themed land at Disney California Adventure.
Overall, the company posted $14.5 billion in revenue, with a net income of $2.9 billion.
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