Disney's 'Toy Story 5' Box Office Haul Drives Strong Q3 Earnings
Disney reported strong third-quarter earnings driven by a $1 billion box office haul from 'Toy Story 5' and robust US theme park attendance. The company's Experiences division, which includes its six global theme parks, cruise line, merchandise, and video game licensing, saw operating income climb 20% to $3.02 billion.
The performance was also bolstered by a 27% increase in operating income at domestic parks, while international park operating income declined 13%. US theme park attendance rose 3% from last year, thanks in part to increased domestic tourist and annual passholder visits.
Disney's Consumer Products revenue saw its strongest quarter of year-over-year growth in 20 quarters, largely due to 'Toy Story 5' merchandise sales. The company also announced a partnership with TikTok to share Disney-focused fan-created content on the Disney+ app.