The Walt Disney Company has just released its 2022 fiscal fourth-quarter report, as well as its full fiscal 2022 earnings report, and the results are nothing short of staggering.
For the fiscal year 2022, The Walt Disney Company reports revenue of $7.4 billion in its Parks division alone for the fourth quarter. For the full fiscal year, Disney reported a staggering $28.7 billion in revenue, representative of a 73% increase over the 2021 fiscal year.
Per The Walt Disney Company earnings report:
Disney Parks, Experiences and Products revenues for the quarter increased to $7.4 billion compared to $5.5 billion in the prior-year quarter. Segment operating income increased $0.9 billion to $1.5 billion compared to $0.6 billion in the prior-year quarter. Higher operating results for the quarter reflected increases at our domestic and international parks and experiences businesses and, to a lesser extent, our merchandise licensing business.
Operating income growth at our domestic parks and experiences was due to higher volumes and increased Guest spending, partially offset by cost inflation, higher operations support costs, and costs for new Guest offerings. Higher volumes were due to increases in attendance, cruise ship sailings, which included a benefit from the July 2022 launch of the Disney Wish, and occupied room nights. Cruise ships were operating during the entire current quarter, while sailings resumed during the prior-year quarter and operated at reduced capacities. Guest spending growth was due to an increase in average per capita ticket revenue driven by the introduction of Genie+ and Lightning Lane in the first quarter of the current fiscal year.
Improved results at our international parks and resorts were due to growth at Disneyland Paris, partially offset by a decrease at Shanghai Disney Resort. Higher operating results at Disneyland Paris were due to an increase in volumes and higher average ticket prices, partially offset by higher operations support costs. Higher volumes were due to increases in attendance and occupied room nights. The decrease at Shanghai Disney Resort was due to lower average ticket prices driven by a higher mix of Annual Passholder attendees in the current quarter as a result of COVID-19-related travel restrictions.
Growth at our merchandise licensing business was primarily due to higher sales of merchandise based on Mickey and Friends, Encanto and Toy Story.
Disney’s fourth-quarter earnings call for the fiscal year 2022 will begin at 4:30 p.m. Eastern, just after the closing bell on Wall Street.