Josh D'Amaro leads Disney to record quarterly revenue for experiences division despite international travel slump.
Josh D'Amaro, the CEO of Disney, reported that the company's experiences division achieved record quarterly revenue of nearly $10 billion for the fiscal third quarter. This 10% year-over-year increase marks the sixth consecutive quarter of record revenue for the segment, which includes theme parks, cruise lines, and resorts. Despite a 6% drop in international travel to the United States, Disney's domestic park attendance rose by 3% and guest spending increased by 4%. Chief Financial Officer Hugh Johnston noted that strong attendance at Walt Disney World was a key driver of growth, bolstered by marketing campaigns and new cruise ships. The company also reported adjusted earnings per share of $2.06, beating analyst expectations. To further boost shareholder value, the administration announced the sale of a 50% stake in A+E Global Media for $1.2 billion, which will be used to increase the share buyback goal to $9 billion this year. Disney also saw strong performance in its entertainment and sports segments, with 'Toy Story 5' surpassing $1 billion in the global box office.