Skift Take
Disney’s international segment continues to perform well and better than the domestic side.
Disney Theme Parks and Experiences reported revenue of $8.2 billion in the fourth quarter, up 13% from last year, according to an earnings release published Wednesday. Operating income stood at $1.8 billion, up 31% from the previous year.
Disney Parks and Experience will be one of the four key building opportunities central to Walt Disney Corporation’s success, said CEO Bob Iger in the earnings release. He said the company is focused on “turbocharging growth in our parks and experiences business.”
The domestic division’s operating income rose 9% to $808 million. The rise was due to growth at Disney Cruise Line and Disney Vacation Club. Domestic parks and resorts experienced weaker results, thanks to higher costs related to the closure of Star Wars: Galactic Starcruiser and inflation.
The international side’s operation income rose over 100% to $441 million. The jump was due to Shanghai Disney Resort and Hong Kong Disneyland. Both parks experienced guest spending growth attributable to higher ticket prices and increased attendance.
In the fourth quarter, Disney invested $5 billion in its parks, resorts and property.
This is a developing story.
