Greater activity at Disney’s parks and resorts, as well as a solid performances by its US channels, helped the House of Mouse achieve a 4% rise in revenues during its third quarter to US$11.6 billion from $11.1 billion over the same period in 2012.
Net income was US$1.85 billion compared to US$1.83 billion one year ago.
By segment, Parks and Resorts saw the highest rise in revenues at 7%, to US$3.7 from US$3.4 billion last year. Consumer Products saw revenues up 4% to US$775 million from US$742 million in Q3 last year, and segment operating income increased by 5% to US$219 million largely due to increased merch revenue from the inclusion of Lucasfilm and the performance of Monsters University and Disney Junior products.
Media Networks revenues were up 5% to US$5.4 billion, driven by an 8% rise in the Cable Networks division to US$3.9 billion. Operating income at Cable Networks increased US$229 million to US$2.1 billion, attributed to growth at ESPN, A&E Television Networks (AETN) and the domestic Disney Channels, partially offset by decreases within ABC Family, which were caused by higher programming costs driven by more hours of original scripted programming.
Disney Interactive, meanwhile, saw a 7% dip in revenues to US$183 million from US$196 million, however the division is up overall by 2% for the first nine months of the fiscal year. Helping drive down revenues was a lack of console gaming releases during the period.
Studio Entertainment revenues dropped 2% to US$1.6 billion and segment operating income was down US$112 million to US$201 million, which can be tied to Marvel’s Iron Man 3 lower box office performance than Marvel’s The Avengers in last year’s quarter offset by a better performance of Monsters University in the current quarter compared to last year’s Brave.