Disney's Q3 Earnings Driven by Toy Story 5 and US Theme Park Attendance
Disney's third quarter earnings were boosted by the success of 'Toy Story 5', which has already pulled in $1 billion at the box office globally. The film's strong performance helped drive interest in other Toy Story films on Disney+, and toy merchandise sales contributed to the company's strongest quarter of year-over-year growth in consumer products revenue in 20 quarters.
The Experiences division, which includes Disney's six global theme parks, saw operating income climb 20% to $3.02 billion and revenue total $9.97 billion. Operating income rose 27% at domestic parks, while operating income declined 13% for international parks and Experiences.
CEO Josh D'Amaro attributed the growth in attendance at parks to U.S. residents, but also noted that Disney is seeing more robust traffic at domestic parks from overseas visitors. He stated, 'The consistent investments that we've made over time, combined with the fact that the experience Disney provides to its fans, it's truly differentiated and highly valued.'