ORLANDO, Fla. — The Walt Disney Company on Thursday announced strong fourth-quarter earnings thanks to growth at its theme parks.
- Revenue up at Disney's theme parks
- Parks division made $6.7 billion in 4th quarter
- Attendance, however, was mixed at US parks
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Disney reported that Parks, Experience and Products revenue increased 8 percent in the quarter to $6.7 billion. Operating income was up 17 percent to $1.4 billion.
The growth at Disney's U.S. parks — Disney World and Disneyland — was aided by increased visitor spending attributed to higher ticket prices and more spending on food and merchandise. The increase at Disney World was despite the negative effect of Hurricane Dorian during the quarter.
Despite revenue growth, attendance was mixed at Disney's domestic parks. Disney World saw slight increases in attendance, but Disneyland reported decreased attendance despite the opening of Star Wars: Galaxy's Edge.
During an investors' conference call Thursday, executives said they think many guests have delayed their visits to Galaxy's Edge until the entire land is open. The 14-acre expansion has one more attraction left to open, Star Wars: Rise of the Resistance, which debuts December 5 at Disney World.
Executives also said that advance hotel bookings were up, meaning attendance numbers could be higher in the next quarter.
In addition to Rise of the Resistance, Disney has several new attractions in the works. Mickey & Minnie's Runaway Railway is set to open next year at Disney's Hollywood Studios. A Guardians of the Galaxy coaster and a Ratatouille ride are coming to Epcot as the theme park undergoes a massive, multi-year update.
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