Josh D'Amaro reports record quarterly revenue for Disney's experiences division despite a slump in international travel to the U.S.
Josh D'Amaro, the CEO of Disney, reported that the company's experiences division achieved a record quarterly revenue of nearly $10 billion for the fiscal third quarter. This 10% increase represents the sixth consecutive quarter of record revenue for the division, which includes theme parks, cruise lines, and resorts. The results were achieved despite a major slump in international travel to the United States, which fell 6% last year. Disney's domestic park attendance rose by 3% and guest spending increased by 4%. Chief Financial Officer Hugh Johnston noted that these figures outperformed competitors in the Orlando area. The administration announced that the experiences segment recorded an operating income of over $3 billion, a 20% increase from the previous year. The company attributed these gains to targeted marketing, the Cool Kids Summer promotion, and refreshed attractions. Additionally, the cruise fleet expanded with the Disney Destiny and the Disney Adventure, which increased stateroom capacity by 50%.