Disney Parks & Resorts has reported $8.7 billion revenue during the first fiscal quarter of 2023, up 21% from the last quarter. Segment operating income also increased 25% to $3.1 billion.
Higher operating results for the quarter reflected increases at the domestic parks and experiences and, to a lesser extent, the international parks and resorts. Operating income growth at the domestic parks and experiences was due to higher volumes and increased guest spending, partially offset by cost inflation, higher operations support costs and increased costs for new guest offerings. Higher volumes were attributable to increases in passenger cruise days, attendance and occupied room nights. Guest spending growth was due to an increase in average per capita ticket revenue driven by Genie+ and Lightning Lane, which were introduced in the prior-year quarter.
Increased results at the international parks and resorts were due to growth at Disneyland Paris and higher royalties from Tokyo Disney Resort, partially offset by a decrease at Shanghai Disney Resort. Higher operating results at Disneyland Paris were due to an increase in volumes and higher guest spending, partially offset by a loss on the disposal of Disney’s ownership interest in Villages Nature, increased costs for new guest offerings and cost inflation. Higher volumes consisted of increases in attendance and occupied room nights. Guest spending growth was driven by an increase in average ticket prices and higher average daily hotel room rates. The decrease at Shanghai Disney Resort was due to lower attendance reflecting fewer operating days in the current quarter compared to the prior-year quarter as a result of COVID-19-related closures.
Disney Parks made $7.4 billion in Q4 of 2022 and $28 billion over that full fiscal year.