Disney parks buck travel slowdown
Disney's experiences division, which includes theme parks and cruises, reported record quarterly revenue of nearly $10 billion despite a broader slump in international travel to the U.S. The company outperformed competitors by maintaining strong domestic attendance and per-capita spending.
Why it matters
Disney's ability to maintain growth during macroeconomic uncertainty highlights the resilience of the entertainment and tourism sector for major brands.
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 gained more than 3% Wednesday.
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