Walt Disney Company posts increased earnings in second quarter

Disney Parks and Resorts revenues for the second quarter increased 14 percent to $3.3 billion primarily because of a shift in the timing of the New Year's and Easter holidays relative to fiscal periods, according to the Walt Disney Company.

The company released its second quarter earnings for fiscal 2013. Diluted earnings per share for the second quarter increased 32 percent to to 83 cents from 63 cents in the prior-year quarter.

Under the Parks and Resorts segment, higher operating income at the U.S. parks happened because of increased guest spending and attendance at both Walt Disney World Resort and Disneyland Resort, the addition of the Disney Fantasy cruise ship, which launched in March 2012, and higher occupied room nights at the Walt Disney World Resort, according to a company news release.

Studio Entertainment revenues increased 13 percent to $1.3 billion driven by the write-down on John Carter in the prior year, and an increase in worldwide theatrical distribution. The strong performance of "Oz The Great And Powerful" and "Wreck-it Ralph" was better than Jon Carter in the same quarter last year.