The Walt Disney Company has announced its theme parks showed financial growth in the fiscal fourth quarter despite temporary closures in Florida due to Hurricane Ian and in China due to coronavirus-related restrictions.
Officials reported that operating income increased by more than 66% and reached $1.5 billion for the theme park division, which was more than double the total earned during the same period in 2021.
Disney’s Chief Financial Officer Christine McCarthy announced that the parks beat the forecast of Wall Street analysts.
Data showed that higher prices and new technology helped increase per-person spending by around 40% since 2019, due in part to the introduction of the Genie+ and Lightning Lane guest experiences.
As for Disney’s international parks, improved results were due to an increase in volumes and higher average ticket prices at Disneyland Paris, which offset some of the financial damage caused by the COVID-related closures of Shanghai Disney Resort.
Disney World should also receive a boost for the next quarter after announcing that its Blizzard Beach Water Park would reopen on November 13.
