Disney Parks Posts $8.4 Billion Revenue in Q2 2024

    The Walt Disney Company has announced earnings for the second quarter of fiscal 2024, and the Disney Experiences (formerly Parks, Experiences, and Products) has posted $8.4 billion in revenue and $2.3 billion in profit. Here’s the announcement:

    Domestic Parks and Experiences
    The increase in operating income at our domestic parks and experiences was due to higher results at Walt Disney World Resort and Disney Cruise Line, partially offset by lower results at Disneyland Resort.

    • At Walt Disney World Resort, higher results in the current quarter compared to the prior-year quarter were due to:
      • Increased guest spending attributable to higher average ticket prices
      • Higher costs due to inflation, partially offset by lower depreciation and cost-saving initiatives
    • Growth at Disney Cruise Line was due to an increase in average ticket prices, partially offset by higher costs
    • The decrease in operating results at Disneyland Resort was due to:
      • Higher costs driven by inflation
      • An increase in guest spending attributable to higher average ticket prices and daily hotel room rates
      • Higher volumes due to attendance growth, partially offset by lower occupied room nights

    International Parks and Experiences
    Higher international parks and experiences’ operating results were due to:

    • An increase in operating results at Hong Kong Disneyland Resort attributable to:
      • Guest spending growth due to increases in average ticket prices and food, beverage and merchandise spending
      • Higher volumes resulting from increases in attendance and occupied room nights. Volume growth benefitted from additional days of operations in the current quarter as well as the opening of World of Frozen in November 2023
      • Increased costs driven by inflation and new guest offerings

    Consumer Products
    The increase in consumer products operating results was driven by higher games licensing revenue

    Disney CEO Bob Iger said that the Experiences division was responsible for a large part of The Walt Disney Company’s positive results in the quarter and that Disney will continue to turbocharge growth with a number of near- and long-term strategic investments.

    The Experiences business was a growth driver in the second quarter, with revenue growth of 10%, segment operating income growth of 12%, and margin expansion of 60 basis points versus the prior year. Although the third quarter’s segment operating income is expected to come in roughly comparable to the prior year, Disney continues to expect robust operating income growth at Experiences for the full year.

    As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!

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