CLAIM #21149 · DIS (DIS) · 2022Q3 earnings call · Aug 10, 2022 · due Oct 1, 2022
“And we are seeing the same momentum well into Q4, as we continue to celebrate the 30th anniversary and the opening of Avengers Campus in July.”
Christine McCarthy · CFO
In context
“we have delivered significantly higher revenue and operating income over that same time period. This approach also provides flexibility with levers we can adjust if demand were to shift. Per capita spending at our domestic parks also remained strong increasing 10% versus Q3 of fiscal 2021 and over 40% versus fiscal 2019. And in another sign of the robust demand we have seen at our parks and resorts, occupancy at our domestic hotels in the third quarter was 90%. Looking ahead, domestic demand at our theme parks continues to look robust with current forward-looking hotel bookings and intent to visit roughly in line with pre-pandemic trends. Improvement at our international parks in the third quarter was driven by Disneyland Paris where both revenue and operating income exceeded 2019 levels. And we are seeing the same momentum well into Q4, as we continue to celebrate the 30th anniversary and the opening of Avengers Campus in July. Disneyland Paris' strong performance in the third quarter was partially offset by closure-related impacts at Shanghai Disney Resort, where the theme park was closed for all, but the last three days of the quarter. At the Media and Entertainment Distribution segment, third quarter revenues increased by over $1.4 billion versus the prior year, and operating income decreased by $645 million, as an increase at linear networks was more than offset by declines at direct-to-consumer and content sales licensing and other. Linear Networks operating income in the quarter increased 13% to approximately $2.5 billion, driven primarily by growth at our Domestic Channels. The increase at Domestic Channels reflects double-digit percentage operating income growth, at both Cable and Broadcasting. Growth at”
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SEC filings for DIS ↗ · Claim quote is verbatim from the 2022Q3 earnings call.