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Higher cruise ticket prices help Disney's Q2

Higher cruise ticket prices help Disney's Q2

The Walt Disney Co. increased second quarter earnings per share by 11% year over year to $1.23 per share. Higher cruise ticket pricing was among the contributors.

Net income rose to $2.1bn from $1.9bn on revenues of $12.5bn, up from $11.6bn.

Disney Cruise Line is part of the Parks and Resorts division, where operating income was up 24%, to $566m, on revenue growth of 6%, to $3.8m, due to higher results at domestic operations, partially offset by lower results at international operations.

Higher operating income at domestic operations was driven by increases in guest spending and attendance, partially offset by higher costs. Guest spending growth was driven by increases in average ticket prices at domestic parks and Disney Cruise Line, increased food, beverage and merchandise spending and higher average hotel room rates.

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