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Walt Disney parks and resorts revenues up 13% to $5.2bn

Revenues at Walt Disney parks and resorts for the Christmas quarter rose by 13% to $5.2 billion as ticket prices rose.

The division’s year-on-year operating income for the three months to December 30 increased by 21% to $1.3 billion.

Quarterly profit growth was due to increases at Disney’s US theme parks and resorts, its cruise line and vacation club business as well as at Disneyland Paris.

The results benefited from the comparison to the impact of Hurricane Matthew, which occurred in the same quarter in the previous year, according to the US entertainments giant.

Higher spending by guests and increased attendance was due to higher average ticket prices, food, drink and merchandise spending and average daily hotel room rates.

Disney Cruise Line saw higher passenger cruise days, which reflected the impact of Disney Wonder being in dry dock in the same period in 2016.

Growth at Disneyland Paris reflected higher attendance and increased average ticket prices, both boosted by 25th anniversary celebrations.

Total quarterly revenues increased just 4% year-on-year, but profits surged thanks to US tax cuts.

Disney recorded a $1.6 billion one off benefit from the cuts.

That helped to drive quarterly profits up 78% to $4.4 billion.

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