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Disney reports ‘incredibly strong’ first quarter

Walt Disney Parks and Resorts’ quarterly revenues have risen 6% to $3.6 billion and operating income has increased 16% to $671 million.


The rise was mainly due to increased guest spending at the entertainment giant’s US domestic parks and resorts, which reflected higher average ticket prices and food, drink and merchandise spending.


Operating income at the company’s international parks and resorts was comparable to the equivalent three months a year earlier.


Increased guest spending at Disneyland Paris and Hong Kong Disneyland Resort and higher attendance at Hong Kong Disneyland Resort were largely offset by lower attendance and occupied room nights at the Paris theme park.


The details came as parent Walt Disney Company reported record earnings for its first quarter ending December 28, with profits up by more than 30% to $1.8 billion on revenues rising by 9% to $12.3 billion.


Chairman and chief executive Robert Iger said: “We had an incredibly strong first quarter, delivering a 32% increase in adjusted earnings per share and double-digit increases in operating income in all business segments.


“These results reflect the strength of our unprecedented portfolio of brands, a constant focus on creativity and innovation, and the continued success of our long-term strategy.”

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