Disney has reported earnings for the second quarter of 2022, with parks, experiences and products seeing revenues more than double to $6.7bn during Q2 compared to the same period in 2021.
Bob Chapek, Disney CEO, said the “strong results in the second quarter, including fantastic performance at our domestic parks… once again proved that we are in a league of our own”.
He said Disney will “continue to transform entertainment by combining extraordinary storytelling with innovative technology to create an even larger, more connected, and magical Disney universe”.
This year, the company’s US parks and resorts are mostly operating without significant restrictions. However, some of its international parks continue to be impacted by the pandemic.
Disney parks report profits of $1.8 billion
Disney’s US parks were open for the entire current quarter. Disneyland Resort was closed for the entire prior-year quarter, while Walt Disney World Resort operated at reduced capacity.
Disney’s parks, experience and products segment generated a total revenue of $6.7 billion in Q2, compared to $3.2 billion in the prior-year quarter.
The division also reported profits of $1.8 billion, compared to a $406 million loss in the same period last year. Disney attributed the growth to increases in attendance, hotel bookings and higher guest spending.
Higher operating results at Disneyland Paris were due to increases in attendance and occupied room nights, while decreases at Hong Kong Disneyland and Shanghai Disney were due to lower attendance.
Disneyland Paris was open for the entire current quarter and closed for all of the prior-year quarter, whereas Hong Kong Disneyland Resort was open for just three days in the current quarter and 33 days in the prior-year quarter.
Shanghai Disney was open for the entire prior-year quarter, but only open for 78 days in Q2 2022. Tokyo Disney Resort was open for the entire quarter in the current and prior years.
Elsewhere, Cedar Fair reported record revenue of $193m for the four-month period ended 1 May 2022, while SeaWorld theme parks enjoyed the highest first-quarter attendance since 2013.
Comcast also reported earnings for the first quarter of 2022, revealing that revenue in the theme parks division of NBCUniversal increased by more than 151 percent year over year.
Images: Disney
