During The Walt Disney Company’s earnings call this afternoon, Disney announced some wildly impressive numbers in revenue for its theme parks division.
On today’s earnings call between Walt Disney Company execs and some of Wall Street’s finest, Disney reported that in the fiscal year 2022 Q2, Disney Parks, Experiences and Products reported income of $1.8 billion on revenue of $6.7 billion for the three-month period that began January 1 and ended on April 2.
Those numbers improve a loss of $406 million in the 2nd quarter of the fiscal year 2021. At that time, theme parks at Disneyland Resort remained closed, and Disney Cruise Line was not in service, both in response to the coronavirus pandemic.
“Guest spending growth was due to an increase in average per capita ticket revenue, higher average daily hotel room rates, and an increase in food, beverage, and merchandise spending,” Disney noted in its report. “The increase in average per capita ticket revenue was due to a favorable attendance mix and the introduction of Genie+ and Lightning Lane in the first quarter of the current fiscal year.”
Overall, The Walt Disney Company reported an increase of 23% in revenue for the quarter, as compared with the fiscal year 2021 Q2, which led to a 50% increase in segment operating income. That rose to $3.699 billion.
Per Disney CEO Bob Chapek at the beginning of the earnings call:
“Our domestic parks were a standout. They continue to fire on all cylinders, powered by strong demand coupled with customized and personalized Guest experience enhancements that grew per capita spending by more than 40% versus 2019.
“The response to next-generation storytelling like Star Wars Galactic Starcruiser has been phenomenal. In fact, Guest ratings for this immersive experience, which opened March 1, are incredibly high and in line with our best-in-class offerings. Demand is strong, and we expect 100% utilization through the end of Q3.”