People gather at the Magic Kingdom theme park before the “Festival of Fantasy” parade at Walt Disney World in Orlando, Florida, U.S. July 30, 2022.
Octavio Jones | Reuters
Disney parks are defying a slump in international travel to the U.S., posting record quarterly revenue for the company’s experiences division on Wednesday.
The experiences segment, which includes Disney’s theme parks, cruise line, resorts and consumer products, reported nearly $10 billion in revenue for the fiscal third quarter, a 10% jump from the same quarter a year prior and a quarterly record. The division has seen record revenue for six consecutive quarters.
The division recorded operating income of more than $3 billion, up 20% from the same period a year prior. Shares of Disney were 2% higher Wednesday.
“It’s important, I think, to highlight that we’re performing significantly better than our competition,” Disney CEO Josh D’Amaro said during Wednesday’s…
