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Disney Profit Jumps 50 Percent, Buoyed by Theme Parks


A year ago, because of the coronavirus pandemic, most of Disney’s theme parks were operating at reduced capacity and Disney Cruise Line was not operating at all. Since April, Disney’s domestic parks and cruise ships have been generally operating without coronavirus-related capacity restrictions, the company said. Disney parks have also started to charge for line-shortening privileges, which has opened up a colossal new revenue stream. New rides have also debuted.Updated Aug. 10, 2022, 10:56 a.m. ETDisney’s 22 domestic hotels had an occupancy rate of 90 percent in the quarter, Christine M. McCarthy, Disney’s chief financial officer, told analysts on the conference call. Bookings for the rest of the year are “roughly in line” with prepandemic levels, she added, and park attendance on “many days” has exceeded 2019 levels.Disney’s traditional financial engine — cable television — has been under increasing strain because consumers are canceling cable hookups at an accelerated pace. In the United States, about 7.5 percent of cable customers cut the cord in the most recent quarter, up from 4 percent a year earlier, ac …

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