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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.
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
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
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.
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.
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.