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
I made it back to Food & Wine. Disney, you're welcome.
"You can dream, create, design, and build the most wonderful place in the world...but it requires people to make the dreams a reality." -Walt Disney
I was on property for Ian back in 2022. It was a ghost town the night before the storm. Kind of eerie, actually to see the kiosks and stands being wrapped in saran and doors being blocked with sandbags. Flight of Passage had a 15 minute standby wait and you could walk onto pretty much everything else. I think we met Jeff at Epcot the night before that, IIRC.
Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."
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