Disney Parks, Experiences and Products Division Enjoyed 70% Growth To $7billion Revenue Last Quarter
News - WDC 11-Aug-2022
The Walt Disney Company has announced their Q3 earnings report this year. The company achieved revenue of $21.5B (+26.3% Y/Y) with a Non-GAAP EPS of $1.09. Shares up are 9% in early trading this morning.
In regards to our favourite division - Disney Parks, Experiences and Products - executives said that attendance at the Walt Disney World and Disneyland Resort is now very close to 2019 levels, but spending per capita is up 40%. Meaning they almost have the same amount of guests back, and they're spending more.
The results (of the whole company) were driven largely by a surge in the company's Parks division. Disney Parks, Experiences and Products revenue jumped 70% to $7.39 Billion. The profit effect was larger still: The Parks unit saw operating income jump sixfold, to $2.19 Billion.
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