Disney beats estimates, US theme park revenue for quarter was $4.8 billion
Posted
Disney released its fiscal 2022 first quarter results, beating analyst expectations in earnings per share, revenue and Disney+ subscriptions. US theme park revenue went from $1.4 billion in the same quarter last year, to $4.8 billion. International theme park revenue went from $378 million to $861 billion. The entire parks, experiences and products segment had income of $2.45 billion, up from a loss of $119 million last year. From the press release:
Disney Parks, Experiences and Products revenues for the quarter increased to $7.2 billion compared to $3.6 billion in the prior-year quarter. Segment operating results increased by $2.6 billion to income of $2.5 billion compared to a loss of $0.1 billion in the prior-year quarter. Operating income for the quarter reflected increases at our parks and experiences businesses, partially offset by a decrease at our consumer products business.
Operating income growth at our domestic parks and experiences was due to higher volumes and, to a lesser extent, increased guest spending, partially offset by higher costs. Higher volumes were due to increases in attendance, occupied room nights and cruise ship sailings. Cruise ships operated at reduced capacities in the current quarter while sailings were suspended in the prior-year quarter. Guest spending growth was due to an increase in average per capita ticket revenue, higher average daily hotel room rates and an increase in food, beverage and merchandise spending. The increase in average per capita ticket revenue was due to attendance mix and the introduction of Genie+ and Lightning Lane. Higher costs were due to an increase in operating costs, due to volume growth, and higher marketing spending. Our domestic parks and resorts were open for the entire current quarter, whereas Disneyland Resort was closed for all of the prior-year quarter, and Walt Disney World Resort operated at reduced capacity due to mandatory COVID-19 restrictions.
The increased operating income at our international parks and resorts was due to growth at Disneyland Paris and Hong Kong Disneyland Resort. Results at Disneyland Paris were due to increases in attendance and occupied room nights, partially offset by higher operating costs. Growth at Hong Kong Disneyland Resort was driven by higher attendance. Disneyland Paris was open for the entire current quarter while only open for 26 days in the prior-year quarter. Hong Kong Disneyland Resort was open for 68 days in the current quarter compared to 42 days in the prior-year quarter. Shanghai Disney Resort and Tokyo Disney Resort were open for the entire quarter in both the current and prior years. Certain of our international operations continue to be impacted by COVID-19-related capacity and travel restrictions.
Lower results at our consumer products business were due to the closure of a substantial number of Disney-branded retail stores in North America and Europe in the second half of fiscal year 2021.
Read analysis from CNBC.
The fan sites and bloggers have a hard case to make to investors that Bob Chapek isn't doing a very good job.
Jeff - Editor - CoasterBuzz.com - My Blog
And to counterpoint:
https://www.change.org/p/the-walt-disney-company-fire-disney-ceo-bo...59501b210e
Maintenance at the parks has also gotten its worst under Chapek, and is not getting better.
While grammatically correct, this sentence both pisses me off and makes me cringe, for many reasons. Yet somehow this eighth grader's petition has earned over 100k signatures.
It's anecdotal nonsense. I haven't been to the parks a lot lately, but down time hasn't been a huge thing.
Jeff - Editor - CoasterBuzz.com - My Blog
Jeff said:
The fan sites and bloggers have a hard case to make to investors that Bob Chapek isn't doing a very good job.
Two words. Purple signs. Nuff said.
The notes I saw on the conference call seemed to celebrate higher adoption than expected of the paid upgrades. Seems like that might be premature. I don't object to this, but if it's oversold, the exclusivity and benefit of it is not realized, and may not result in repeat customers. If we're not yet back to full capacity, it could feel even less valuable later.
I haven't seen an email survey or survey people in the park post-Covid, which is weird if anecdotal. I hate to give weight to the nutty bloggers, but are they getting feedback?
Jeff - Editor - CoasterBuzz.com - My Blog
This guy. This is why platforms and algorithms suck. How is this guy getting thousands of views? (Because of my stupid linking, obvs. 😆)
Jeff - Editor - CoasterBuzz.com - My Blog
You are a sick and twisted masochist if you can make it through all 10 minutes of that video, which is probably only 5 minutes long if you edit out all of his dramatic pauses. I made it around 2 minutes and I'm not sure that someone with that little of a grasp of basic economics can afford a Disney trip in the first place.
bigboy said:
I made it around 2 minutes
That’s about a minute 40 longer than I made it. Would’ve been a minute 50 if he didn’t spend the first 10 sipping coffee and staring goofily at the camera. My ADD ass don’t got time for that ****.
Good for that guy. He doesn't need an interesting personality to get views on his channel. He doesn't need to work really hard at writing a good general outline, editing his videos, or creating a extremely clickable thumbnail, and he's killing it. Makes me a little mad. LOL
-Travis
www.youtube.com/TSVisits
1) Find a group of people who are fanatically devoted to a particular topic.
2) Tell them what they already believe.
3) Profits!
On the one hand, there is a certain kind of nice person - I was thinking "Minnesota nice" but it turns out Don is from Canada - who is legitimately shocked that other people do things that they think are indecent. And I have a lot of sympathy for that, they tend to be wonderful people in many ways - but it can make them ill-equipped for the world. Jimmy Carter was a genuinely decent person who was a terrible president in part because he seemed to think everyone else was as decent as he was.
On the other hand, and I say this as someone who is as repulsed by the tendencies of capitalism as anyone on this website: it takes a special lack of analysis to think that charging $800 for a hotel room is acceptable, but charging $800 PLUS $17 FOR PARKING represents a level of greed that is beyond the pale. And a different special lack of analysis not to realize that something you liked now just costs more than you're willing to pay. Although Don does kinda get to that point near the end.
(Yes, I watched the whole thing; yes, I probably am a sick and twisted masochist.)
He doesn't know less about economics than your average politician. Unlike the latter though he won't have any impact on my life.
"I mean come on, though. They charge us twenty-five bucks to park and then says 'have a magical day'? How 'bout we start with a 'sorry'?"
-Charlie Berens
hambone said:
On the other hand, and I say this as someone who is as repulsed by the tendencies of capitalism as anyone on this website: it takes a special lack of analysis to think that charging $800 for a hotel room is acceptable, but charging $800 PLUS $17 FOR PARKING represents a level of greed that is beyond the pale.
Of course these are the same people that would then say "Only $900 and it includes parking? What a deal!"
You must be logged in to post
