Disney reported a 7% increase in revenue to $25.2 billion for the quarter, falling slightly short of Wall Street's forecast of $25.4 billion. Despite this, the company beat expectations for operating income and earnings per share, with adjusted earnings reaching $2.06 per share, surpassing analyst predictions of $1.86.
The Experiences division, encompassing theme parks, cruise lines, and merchandise, saw revenue rise 10% to nearly $10 billion, with operating income climbing 20% to over $3 billion. This growth was largely driven by a 4% increase in global theme park attendance and a 3% rise at domestic parks, primarily from domestic tourists and annual passholders. Domestic park operating income increased by 27%, while international parks experienced a 13% decline in operating income.
The blockbuster "Toy Story 5" played a crucial role, grossing over $1 billion globally and contributing to increased viewings of other "Toy Story" films on Disney+ and a strong quarter for Consumer Products revenue. Disney also announced a content sharing deal with TikTok, aiming to integrate fan-created content into the Disney+ app.
