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Fanpup says...
I remember visiting this website once...
It was called Measles No Match For The Magic Of Disney: CEO Says No Discernible Impact On Parks - Forbes
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Got one eye on the markets, the other on Gen Y\'s pressing $$ issues full bio →
I cover breaking market news and, separately, personal finance for millennials. Got my training on the beat from TODAY show financial editor Jean Chatzky along with my own cornucopia of student loans. They say the best way to learn is by doing, and when it comes to this exercise in student debt, I’m a (reluctant) doer. Penn alum, Philly-area native, millennial-defending millennial.
Measles No Match For The Magic Of Disney: CEO Says No Discernible Impact On Parks
Here’s one thing anti-vaxxers can’t dispute: the Walt Disney Company had a very solid first quarter. The entertainment giant’s California theme park may have been the epicenter of a measles reemergence that began in December, but according to comments made by the company’s CEO on Tuesday afternoon, the effect has yet to bleed through to the company’s financial results. In other good news for the Mickey Mouse company, Disney recorded higher than expected profit and revenue during its first fiscal quarter of 2015, and as a result, shares of Disney are rising fast in Tuesday’s after-hours trading session.
Disney reported $13.4 billion in first quarter revenue, a figure that grew 9% year-over-year and easily cleared the $12.9 billion analyst consensus. Net income for the quarter surged 19% to $2.2 billion and resulted in $1.27 of earnings per share, a figure that grew 23% over the prior-year period and beat the Wall Street estimate by 20 cents per share.
“This was yet another incredibly strong quarter for our company, with diluted earnings per share up 23% driven by record revenue as well as significant growth in segment operating income,” Bob Iger, Disney’s chairman and CEO, said in a statement Tuesday afternoon. “Our results once again reflect the strength of our brands and high quality content and demonstrate that our proven franchise strategy creates long-term value across all of our businesses.”
Within those segments Iger is referring to, the consumer products division saw the largest increase in revenue and operating income. Driven by (surprise, surprise) the sales performance of
-related merchandise in stores and online, consumer products posted a 22% increase in revenue — which grew to $1.4 billion — and a whopping 46% surge in operating income, which came in at $626 million for the quarter.
Elsewhere within the company, the media networks division saw its revenue grow 11% to $5.9 billion and its operating income grow 3% to $1.5 billion. Increases in cable revenue from ABC Family and the Disney Channels offset decreases from ESPN; the sports network suffered from a combination of higher programming and production costs alongside lower ad revenue. On the broadcasting side of things, higher program sales from 
Studio entertainment revenue decreased 2% to $1.9 billion, though operating income increased 33% to $544 million. Disney attributed the higher operating income to strength in its home entertainment category, where per-unit costs were lower compared to this time last year and Guardians of the Galaxy, Frozen and 
As for Disney’s now-in-the-spotlight parks and resorts division, the segment recorded $3.9 billion in first quarter revenue, a 9% increase, and $805 million in operating income, a figure that grew 20% year over year. Disney said the higher operating income reflects increased volume and higher guest spending.
Though the company did not comment on the measles outbreak that began in its Anaheim-based Disneyland in December and has since sparked a fevered conversation on the safety of vaccinations, CEO Iger said during an interview with CNBC Tuesday that his company has “not been able to discern any impact” on its parks from the outbreak. When asked to weigh in on the vaccination debate, Iger was quick to note that he nor his company are medical experts, but also said that based on the research he’s seen, getting inoculated is a smart thing to do and “personally, [he\'d] advise it.” (But don’t just take it from him: take it from the CDC, which recommends all children get two doses of the Measles, Mumps and Rubella vaccine and says that parents should expect the vaccines their children receive are both safe and effective.)
Disney shares, which finished Tuesday trading up 2.3%, extended upon these gains in Tuesday’s after hours trading session; the stock is currently up 3.3%. Year-over-year, Disney stock is up more than 30%.
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