The Walt Disney Company has reported its earnings for its third fiscal quarter (ending 2 July 2022), with ceo Bob Chapek describing it as “an excellent quarter” for the business.
Revenues for the quarter and nine months grew 26% and 28% respectively.
“We had an excellent quarter, with our world-class creative and business teams powering outstanding performance at our domestic theme parks, big increases in live-sports viewership, and significant subscriber growth at our streaming services,” commented Bob Chapek, ceo at The Walt Disney Company. “With 14.4 million Disney+ subscribers added in the fiscal third quarter, we now have 221 million total subscriptions across our streaming offerings.
“We continue to transform entertainment as we near our second century, with compelling new storytelling across our many platforms and unique immersive physical experiences that exceed guest expectations, all of which are reflected in our strong operating results this quarter.”
Within Disney Parks, Experiences and Products – where consumer products sits – revenues for the quarter increased to $7.4 billion compared to $4.3 billion in the prior year quarter. Segment operating income increased $1.8 billion to $2.2 billion compared to $0.4 billion in the prior year quarter. Higher operating results for the quarter reflected increases at domestic parks and experiences and, to a lesser extent, at international parks and resorts.
Consumer Products saw a 2% increase for the period, reporting revenue of $1,183 million.