Fantastic Quarter!
Disney is doing very well again with a better than expected 22% rise in profit. Especially the movies National Treasure: Book of Secrets and the fairy tale “Enchanted” together with Disney theme park attendance are taking care of the big profits in their last quarter.
Even with the frightening economic situation at the moment, Disney seems unstoppable boosting their profits and making their shareholders happy.
“All of the big media companies are doing fundamentally very well and the market just refuses to acknowledge it,” (Reuters)
So they are not the only media company getting good results. It feels like people need a little bit of magic and a place to go to so they can get away from the real live. A good movie or a visit to the theme park seems to be the remedy at this time.
Disney also believes that the future looks good for the parks. Hotel room reservation slightly up in 2008 and full parks are making the road for the future…
“We believe we are much better positioned in a difficult economic cycle than we were in the past,” Chief Executive Bob Iger said on a conference call with analysts. “We believe this segment can sustain success for many years to come.” (Reuters)
For those interested, you can read the full financial report here.