The full reopening of Disney theme parks and the return of cruises helped the division return to the black in the three months including Christmas.
Revenues for Disney Parks, Experiences and Products for the quarter to January 1 doubled to $7.2 billion against $3.6 billion in the same period a year earlier.
Operating results were up by $2.6 billion to income of $2.5 billion compared to a loss of $0.1 billion year-on-year.
“Operating income for the quarter reflected increases at our parks and experiences businesses, partially offset by a decrease at our consumer products business,” Walt Disney Company said.
However, the company added: “Certain of our international operations continue to be impacted by Covid-19-related capacity and travel restrictions.”
Higher volumes at US parks were due to increases in attendance, occupied room nights and cruise ship sailings.
“Cruise ships operated at reduced capacities in the current quarter while sailings were suspended in the prior-year quarter,” the company reported.
“Guest spending growth was due to an increase in average per capita ticket revenue, higher average daily hotel room rates and an increase in food, beverage and merchandise spending.”
Total Walt Disney Company revenues for the quarter jumped by 34% to $21.8 billion, with profits up to $1.1 billion.
All US theme parks and resorts were open for the entire quarter, whereas Disneyland Resort was closed in the same period last year and Walt Disney World Resort operated at reduced capacity due to mandatory Covid-19 restrictions.
Increased operating income at international parks and resorts was due to growth at Disneyland Paris and Hong Kong Disneyland Resort.
“Results at Disneyland Paris were due to increases in attendance and occupied room nights, partially offset by higher operating costs,” the company reported.
“Growth at Hong Kong Disneyland Resort was driven by higher attendance.
“Disneyland Paris was open for the entire current quarter while only open for 26 days in the prior-year quarter. Hong Kong Disneyland Resort was open for 68 days in the current quarter compared to 42 days in the prior-year quarter.
“Shanghai Disney Resort and Tokyo Disney Resort were open for the entire quarter in both the current and prior years.
“Lower results at our consumer products business were due to the closure of a substantial number of Disney-branded retail stores in North America and Europe in the second half of fiscal year 2021.”
Walt Disney Company chief executive Bob Chapek said: “We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic [US] parks and resorts.
“This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.”