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A masked couple pose for photos in front of a statue of Walt Disney and Mickey Mouse, with Sleeping Beauty’s castle behind, at Disneyland Resort in Anaheim, Calif., As visitors return to the park with covid security restrictions in place, including the fleet only being at 25% of its capacity, on Monday, May 3, 2021.
Jay L. Clendenin | Los Angeles Weather | Getty Images
Disney’s theme parks division returned to profitability for the first time since the start of the pandemic, the company reported Thursday, as all of its parks were reopened in the fiscal third quarter and attendance and consumer spending increased.
Revenue in Disney’s parks, experiences and products segment jumped 307.6% to $ 4.3 billion, from $ 1.06 billion in the same period last year.
Disney National Parks eased restrictions in April, leading to increased attendance. While customer capacity has not reached the highs seen before the pandemic, it is improving as mask mandates were relaxed during the quarter.
In each of the previous five quarters, Disney recorded a loss in segment operating income due to the Covid-19 outbreak. In the third quarter, the company’s operating income from parks, experiences and products reached $ 356 million, compared to a loss of $ 1.87 billion in the same quarter last year .
The resurrection of the theme park industry is critical to Disney’s bottom line. After all, in 2019 the segment, which includes cruises and hotels, accounted for 37% of the company’s $ 69.6 billion in total revenue.
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