Disney's fiscal year 2017 Q1 revenue of US$14.784 billion Shanghai Disneyland has achieved significant results
For the fiscal quarter, Walt Disney Company's revenue was US$14.784 billion, down 3% from US$15.222 billion in the same period last year. Net profit attributable to shareholders was US$2.479 billion, down 14% from US$2.88 billion in the same period last year.
Original title: Disney released its first quarter 2017 financial report with operating income of US$14.784 billion
. Walt Disney Company announced its first quarter report for the fiscal year 2017 ended December 31, 2016. For the fiscal quarter, Walt Disney Company's revenue was US$14.784 billion, down 3% from US$15.222 billion in the same period last year. Net profit attributable to shareholders was US$2.479 billion, down 14% from US$2.88 billion in the same period last year.
Financial Report
According to the report, Disney divides its main business into four aspects: media networks, theme parks and resorts, film and television entertainment, consumer products and interactive media. Except for the park and theme park business, the revenue and operating profit of the other three businesses fell compared with the same period last year.
revenue from the media network business of US$6.233 billion fell by 2% year-on-year, and operating profit of US$1.362 billion fell by 4% year-on-year. Disney said part of the decline in revenue was due to poor performance of the cable network business, while the decline in operating profit was due to a decrease in ESPN and business investment income, which partially offset the increase in profits for ABC TV network and TV stations.
The theme park and resort business revenue reached US$4.555 billion, an increase of 6% year-on-year, and operating profit was US$1.11 billion, an increase of 13% compared with the same period last year. It was also the only business to achieve growth this fiscal quarter. Disney said that the growth in revenue was mainly due to the expansion of international business, especially the opening of Shanghai Disneyland, which had a significant effect; domestic business was related to the increase in ticket prices and the New Year holiday.
Revenue from the film, television and entertainment business fell 7% year-on-year to US$2.52 billion, while operating profit fell 17% to US$842 million. With Disney's 2016 box office revenue exceeding US$7 billion and ranking first in the world, its film and television business has improved greatly. However, compared with other fiscal quarters, there were fewer highlight films, and box office revenue decreased compared with the same period last year. In addition, turnover of products related to the "Star Wars" classic series and "Frozen" declined, revenue from the home entertainment business decreased by 24% year-on-year, and only TV and video-on-demand businesses increased.
Revenue from the consumer products and interactive media business of US$1.476 billion fell 23% year-on-year, and operating profit fell 25% year-on-year to US$642 million. According to financial reports, the decline in operating profit was due to the decline in various businesses such as product licensing, games and retail, especially the licensing and games business, which dropped by 28% year-on-year. With the decline in sales of the "Star Wars" series and "Frozen" products, although the popularity of "Ocean" offset part of the impact, it still showed a downward trend.
Robert Iger, Chairman and CEO of Walt Disney Company, said he was very satisfied with the performance in the first quarter, especially the excellent performance of the park and resort business, and Avatar and Star Wars theme parks were already under construction. It also revealed that Shanghai Disneyland has received 7 million tourists, and is operating at its maximum capacity every day during the Spring Festival. It is expected to exceed 10 million by the first anniversary and is expected to achieve a balance of payments this fiscal year.
Editor: Nancy