Disney Parks, Experiences and Products reported a 17% increase in revenue to $7.776 billion in the three months ending April 1, 2023. Operating income was up 23% for the segment in the period - to $2.166 billion, partially offsetting a 42% drop in income for Disney's media and distribution segment.
With the Parks segment, operating income was up 10% at Disney's domestic theme parks and the Disney Cruise Line, to $1.519 billion, while income rose to $156 million at the international parks, up from a loss of $268 million in the prior year quarter, when some parks were closed due to lockdown restrictions.
"Results at our domestic parks and resorts were slightly unfavorable to the prior-year quarter, as a decrease at Walt Disney World Resort was largely offset by growth at Disneyland Resort," Disney said in its earnings report.
"The decrease at Walt Disney World Resort was due to higher costs, partially offset by increased volumes. Higher costs reflected cost inflation, increased expenses associated with new guest offerings and higher depreciation. The increase in volumes was due to attendance growth and higher occupied room nights. Increased operating income at Disneyland Resort resulted from growth in attendance and guest spending, partially offset by higher costs. Higher guest spending was due to increases in average ticket prices and average daily hotel room rates. The increase in costs was primarily due to higher operations support costs and increased costs associated...
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