The Walt Disney Company has reported earnings for its first fiscal quarter ended January 1, 2022, with CEO Bob Chapek revealing that Disney parks posted the “second best quarter of all time”.
“Our domestic parks and resorts achieved all-time revenue and operating income records despite the Omicron surge,” Chapek said during an investors conference call.
“I could not be more pleased with the performance of our parks, experiences and products segment, which posted its second best quarter of all time,” he added.
“Over the last several years, we’ve transformed the guest experience by investing in new storytelling and groundbreaking technology, and the records at our domestic parks are the direct result of this investment,” Chapek said.
Revenues for the Disney parks, experiences and products segment in Q1 2022 increased to $7.2bn, compared to $3.6bn in Q1 2021. Operating results rose by $2.6bn to income of $2.5bn, compared to a loss of $0.1bn in Q1 2021.
“I could not be more pleased”, says Bob Chapek
Operating income growth at Disney’s US parks for 2022’s first quarter was due to increased guest spending and growing attendance. Walt Disney World and Disneyland were open for the entire current quarter this year.
Increased operating income at Disney’s international parks was put down to growth at Disneyland Paris and Hong Kong Disneyland Resort, driven by increases in attendance despite the ongoing pandemic.
“We will continue to invest in the guest experience. I am personally looking forward to Star Wars: Galactic Starcruiser at Walt Disney World, a two-night adventure into the most immersive Star Wars story ever created,” Chapek said.
“Later this summer, we will debut an innovative new roller coaster at Epcot, Guardians of the Galaxy: Cosmic Rewind, and open Avengers Campus at Disneyland Paris, where the iconic Quinjet landed a few weeks ago ahead of the resort’s 30th anniversary celebrations.”
Images: Disney
