BREAKING: Walt Disney Company Reports $8.7B in Disney Parks Revenue for Q1 2023
It’s time for the first quarter earnings report from The Walt Disney Company, with CEO Bob Iger returning to take the lead.
If you’re looking for all the updates and announcements, you’ve come to the right place, and now we’re here to report the revenue attributed specifically to Disney Parks.
Disney Parks Revenue
According to The Walt Disney Company first quarter earnings for fiscal 2023, Disney Parks, Experiences and Products revenues increased 21% to $8.7 billion for the quarter, with segment operating income increasing 25% to $3.1 billion.
The report notes that higher operating results affected increases at the domestic parks, experiences, and also international parks and resorts.
Income growth was attributed to “higher volumes and increased guest spending,” which were partially offset by factors such as inflation and higher operations costs. Higher volumes were attributed to passenger cruise days, attendance, and occupied room nights, while guest spending growth was due to increased ticket revenue as well as Genie+ and Individual Lightning Lanes.
Increased revenue was also reported due to growth at Disneyland Paris, higher royalties at Tokyo Disney Resort, and an offset at Shanghai Disney Resort due to the recent month-long closure.
Disney will be sharing more details on their Q1 earnings call, so stay tuned for more announcements!