BURBANK, Calif. — The Walt Disney Company reported its quarterly earnings Thursday afternoon after the closing bell.
Hurricane Irma cost the company $100,000,000, however, despite the loss, parks and resorts are doing well, the report said.
The company said in August that it missed the mark for revenue during the third quarter because of labor and operations costs.
Officials blamed the cost of opening Pandora, an "Avatar"-themed land at Disney's Animal Kingdom, and dry-docking Disney Cruise Line's newest ship, the Disney Fantasy.
Disney said last quarter that it saw growth driven by its parks in Shanghai, China, and Paris, France.
Officials said it lost 3 percent of the traffic it could have received thanks to the hurricane that forced the theme park's closure in Orlando for a few days. It dragged the company revenue down 1 percent and profits down 4 percent, the report said.
However the theme parks outperformed the rest of the company with revenue up 8 percent compared to last year and profits up 14 percent.
Closing the Florida parks for 1½ days in October 2016 for Hurricane Matthew cost the company $40 million, it said.
Disney officials said the company's revenue increased to more than $55 billion last year.
Cox Media Group
