The Walt Disney Co. reported lower quarterly revenue and operating income, though its Parks and Resorts segment—which includes Disneyland Resort in Anaheim—was a brighter spot than most other divisions.
The Burbank-based entertainment giant said year-over-year revenue in its fourth quarter declined 3% to $13.1 billion and operating income fell 10% to $3.2 billion. Full-year results were up 6% and 7%, respectively.
The company’s parks and resorts segment posted revenue of $4.4 billion in the quarter—up 1% year-over-year—and operating income of $699 million, which was down 5% compared with the same period last year.
Parks and Resorts’ results for the year were up 5% on revenue and 9% on operating income.
On a quarterly and an annual basis the segment’s year-over-year growth was second only to Disney’s Studio Entertainment segment and bested the Media Networks and Consumer Products & Interactive Media units.
Part of the quarterly and annual decline resulted from an additional week of operations in 2015 compared with 2016, a company spokesperson said.
The company doesn’t break out results for specific parks.
Walt Disney Co. had annual revenue of $55.6 billion and operating income of $15.7 billion, up 6% to 7% compared to its previous fiscal year.
Disney released results after markets closed today.
The company was the subject of takeover chatter this morning, prior to its earnings release.
Liberty Media Chairman John Malone suggested the company could spin off ESPN—whose results lagged this quarter—which would make the remaining assets an attractive acquisition for Apple, he said.
