Revenue in the parks and products division surged to $4.3 billion from $1.1 billion a year ago, as theme parks closed last year were open for part or all of this year’s quarter.
FILE - In this Aug. 7, 2017, file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. The Walt Disney Co. turned a profit in 2021 in its most recent quarter as reopened parks provided a revenue bounce. The Walt Disney Co. swung to a profit in its most recent quarter as reopened parks provided a revenue bounce.
Asked about concerns about the infectious delta variant affecting the park business, Disney CEO Bob Chapek said on a call with analysts that the company sees “strong demand” at the parks continuing, although there have been group and convention cancellations. Analysts polled by FactSet predicted earnings of 55 cents per share on revenue of $16.76 billion. Disney shares jumped more than 5% to $188.72 in after-hours trading.
While subscribers are growing, the company is making less from each one as it expands its significantly cheaper Disney+ Hotstar service in countries like Indonesia, Malaysia and Thailand. The average amount of money it pulled from each customer fell 10% in the quarter, to $4.16; without Hotstar, which makes up about 40% of the subscriber base, it would have been $6.12.
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