The Walt Disney Company has reported that decreased guest spending has contributed to a 12 per cent reduction in revenue at its theme parks and resorts during the three months ending 28 March.

Compared with the same period last year, the company's US theme park operations and Disneyland Resort Paris in France generated just US$2.4bn (£1.6bn, 1.8bn euro) in revenue as the recession started to impact on consumer spending. Decreased merchandise spending, a cut in average ticket prices and the Easter holiday period falling in the third quarter this year have also had an effect on the company's results, along with a reported decrease in visitor numbers at Disneyland Resort Paris.

Overall results for the Walt Disney Company for the second quarter revealed a 46 per cent drop in profits compared with 2007, but chief executive Robert A Iger remains cautiously optimistic that the company's fortunes will improve. Iger said: "We had a difficult second quarter due to the weak economy an other factors. At the same time, we remain focused on our core business strategy and believe our creativity, brands and businesses will serve us well as the economy recovers."