The Walt Disney Company has just released its earnings report for the fourth quarter of its 2025 fiscal year. The Company also released the full 2025 fiscal year results as part of the earnings report. The Disney Experiences division, which controls theme parks and cruise ships, posted a record year with the highest-ever operating income of $10 billion for 2025. Here’s the latest!
Disney Parks Enjoy Record Earnings in 2025
In an earnings report posted this morning, Disney says that it had a record full-year segment operating income for Disney Experiences of $10.0 billion, an 8% increase of $723 million compared to the prior year. Disney Experiences also had a record Q4 segment operating income of $1.9 billion, a 13% increase of $219 million compared to the prior-year quarter.
Disney says that operating income at the domestic parks and experiences increased compared to the prior-year quarter due to growth at Disney Cruise Line, attributable to an increase in passenger cruise days, partially offset by higher fleet expansion costs, both reflecting the launch of the Disney Treasure in the first quarter of the current year.
International parks and experiences’ operating results increased compared to the prior-year quarter, primarily due to growth at Disneyland Paris. The increase at international parks and experiences was attributable to an increase in attendance, an increase in guest spending, and higher costs attributable to new guest offerings.
In terms of topline revenue, the Experiences division recorded a 6% increase to $8.77 billion in the fourth quarter, and a 6% increase in full-year revenue to $36.16 billion.
Going forward, Disney says that Q1 of fiscal 2026 will include $90 million in pre-opening expenses for the Disney Destiny and Disney Adventure. Disney will also incur $60 million of dry dock expenses.
Guidance for the full 2026 fiscal year includes high single-digit percentage growth in the Experiences segment operating income compared to 2025, with most of that growth weighted to the second half of the year.
Here’s the executive commentary for the Disney Experiences division, and the current earnings report.
Our Experiences segment delivered record operating income of $1.9 billion for Q4 (up 13% compared to the prior year) and record operating income of $10 billion for the full year (up 8% compared to fiscal 2024). In addition, we continue to add value for our guests, resulting in strong customer satisfaction. Despite increased competition in the marketplace, Walt Disney World and Disneyland remain the two most visited theme parks in the world, offering an unparalleled guest experience.
We are looking forward to two new cruise ships joining our fleet in the coming months: The Disney Destiny’s maiden voyage kicks off next week on November 20, and the Disney Adventure will launch in March, marking the first time we have a ship homeported in Asia. This will bring our fleet to a total of eight cruise ships. This spring, we are excited to open World of Frozen at Disneyland Paris. And with expansion projects underway at every one of our theme parks, five additional cruise ships scheduled for launch beyond fiscal 2026, and a new theme park planned for Abu Dhabi, the strategic investments we are making now will help ensure our offerings remain best-in class and appeal to audiences worldwide well into the future.
Overall, this quarter caps another strong fiscal year for the Company. We continue to execute across our strategic priorities as we build for the future, deliver the very best in entertainment to consumers, and create value for shareholders.
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!
