Disney experiences division reports 1% gain in revenue
Posted
Revenue for the parks division came in slightly ahead of estimates, rising 1% year over year to reach $8.24 billion. Operating income, however, fell short of expectations of $2.31 billion to hit $1.66 billion in the quarter, a 6% drop compared to the prior year. This was primarily driven by weak results overseas performance, with international operating income plummeting 32% year over year. The company cited a decline in attendance and a decrease in guest spending amid the Paris Olympics and a typhoon in Shanghai.
Read more from Yahoo Finance.
The standout to me in the story is that the hurricanes cost them $130 million in revenue (and Helene didn't really do anything but rain). We were surprised that in our ritual pre-hurricane visit (for Milton) that it was still reasonably crowded, which is to say not empty as it has been for previous storms. I know they keep worrying about "softening demand" at the parks, but investor or not, I don't think it's reasonable to expect the insane volume they had the last few years. Relative to pre-pandemic times, it was downright crappy for awhile.
Jeff - Editor - CoasterBuzz.com - My Blog
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