Disney Parks Posts Record Quarterly Revenue Even With Some Closures

The Walt Disney Corporation announced on Tuesday during its fourth quarter earnings call that its theme park division generated $7.42 billion worth of revenue, a division record and a 36 percent increase from the same period last year.

Disney's theme parks posted record revenue for the quarter ending Oct. 1 despite Hurricane Ian forcing the closure of all Walt Disney World parks in Florida for two days in September and Shanghai Disneyland's strict entry rules limiting the number of visitors. Disney Parks' quarterly operating income of $1.5 billion was more than double last year's figure. In addition, Disney also said its theme park division also set all-time records in both revenue and operating income for a full year.

However, Disney reported weaker than-expected-quarterly earnings in large part due to its streaming business losing $1.47 billion during the period. The company's recorded $20.2 billion worth of revenue for the fourth quarter. Analysts had projected Disney to generate $21.27 billion of revenue.