Disney experience division sees 10% rise in revenue, 12% in operating income for quarter
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From The New York Times:
Revenue at Disney Experiences, a division that includes theme parks and cruise ships, totaled $8.4 billion, a 10 percent year-on-year increase. Operating income totaled $2.3 billion, up 12 percent. Wall Street, however, had hoped for stronger profit margins. In addition, Disney said higher wages, expenses tied to the arrival of two new cruise liners and — crucially — a general slowdown in travel would negatively affect the coming quarter.
“We are seeing some evidence of a global moderation from peak post-Covid travel,” Hugh Johnston, the chief financial officer of Disney, said on a conference call with analysts.
The market has been brutal toward Disney since the pandemic. It's still only worth about half of what it was around three years ago. I guarantee you that if this were a tech company, it would be worth some irrational amount, regardless of streaming performance.
I do like hearing from them about how they perceive travel. We've been talking around here over the last year, wondering if "revenge travel" was over, and it sounds like they think it is. I understand the cruise ships to cost about $2 billion each, which I totally get. We just did the Wish a couple of weeks ago, in concierge, and the materials and workmanship of everything is unlike anywhere I've stayed on land. The Treasure is one piece, though not complete, and they just floated the bow of the Destiny up river (with the filigree covered, of course).
Jeff - Editor - CoasterBuzz.com - My Blog
I guarantee you that if this were a tech company, it would be worth some irrational amount
The crash coming for Tesla will be huge this year though, the cut prices have decimated margins , ev early adopters are filled up, he’s laying off swaths of people, multiple investigations, china going more and more domestic, along with people souring on his personality, thus the brands image becoming a mess…
But yeah 10% and over 8.5 Billion is crazy especially compared to what people think is peak Iger era.
Tesla is not a tech company, it's a car company. And I'm just bitter because no tech company I've worked for actually created an equity situation that was super lucrative.
Jeff - Editor - CoasterBuzz.com - My Blog
Tesla is not a tech company, it's a car company
Yes but treated as a tech company, and the street just now realizing it. It’s sales and revenue compared to Ford or Toyota are laughable, but it’s valuation still nuts after 35% or so drop.
Jeff:
Tesla is not a tech company, it's a car company.
All car companies were tech companies in their own time. Look at Ford's growth from 1903 to the 1950's.
Was Henry Ford angling for an IPO and an exit event? Was the company seeded with Silicon Valley venture capitalists? If not, then we're not talking about the same thing.
Jeff - Editor - CoasterBuzz.com - My Blog
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