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Chapek Brags that Disney is in a League of Their Own as Profits Continue to Soar

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Chapek Brags that Disney is in a League of Their Own as Profits Continue to Soar
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Despite the fact that we’re coming out of a pandemic, Disney reports record revenue and operating income. Check out the details here.

Revenue Grew

Credit: Susan

In an audio webcast today, Disney discussed fiscal second quarter 2022 financial results. Revenues for the quarter and six months grew 23% and 29% respectively. This is despite a $1.0 billion reduction for the amount due to a customer to early terminate license agreements for film and television content delivered in previous years on Disney’s direct-to-consumer services.

Earnings Per Share

Credit: Susan

Earnings per share from operations for the quarter decreased to $0.26 from $0.50 in the prior-year quarter. Also, earnings per share for the six months increased to $2.14 from $1.11 in the prior-year period.

Why the Increase

Screenshot: Disney

Bob Chapek, Chief Executive Officer, The Walt Disney Company, shares the following reasons for success: “Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services once again prove that we are in a league of our own.”

“As we look ahead to Disney’s second century, I am confident we will continue to transform entertainment by combining extraordinary storytelling with innovative technology to create an even larger, more connected and magical Disney universe for families and fans around the world.”

For more information on Disney+ increasing subscribers, read Donna’s recent post HERE.

Capacity Restrictions?

Credit: Monica

In fiscal 2022, Disney’s domestic parks and resorts operating without significant COVID-19-related capacity restrictions, such as those that were in place in the prior year. Certain Disney international parks and resorts and cruise ship operations continue to be impacted by COVID-19-related closures and capacity and travel restrictions.

At the Disney Media and Entertainment Distribution segment, the film and television productions have generally resumed, although there have been disruptions of production activities depending on local circumstances. Disney generally released its films theatrically in the first half of fiscal 2022, although certain markets continue to impose restrictions on theater openings and capacity.

Not only that, but Chapek also discusses the success of the Star Wars Galactic Starcruiser HERE.

Revenue

Credit: Susan

Disney Parks, Experiences, and Products revenues for the quarter increased to $6.7 billion compared to the $4.2 billion in the prior year.

What are your thoughts on this increased earnings? Do you think Disney should give guests more experiences or stop increasing prices? Or, do you feel Disney is worth the money? Please share your in the comments below, or tell us on Facebook.

Source: thewaltdisneycompany.com

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5 COMMENTS

  1. I feel like he’s just trying to troubleshoot after all of the hoopla caused by the Disney whistleblower and their stance on the Parental Rights in Education Bill. Many people cancelled their Disney + subscriptions and Disney stock took a tumble. I just checked and show that as of this morning it is down -6.27% at $100.92 per share. Disney may be in a League of their Own; however, it doesn’t appear to be in a good way. Chapek needs to go! He is running Disney into the ground!

  2. He needs to go…Disney used to be in a league of its own thanks to incredible guests services, but now the WDW experience isn’t nearly what is was pre covid.

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