Disney parks & products division returns to profit as theme park losses narrow, merchandise sales soar

Disney’s theme park division returned to profitability for the first time since the pandemic began, the company reported Thursday.

Revenue at Disney’s parks, experiences and products segment jumped 307.6% to $4.3 billion, as all of its parks were reopen during the fiscal third quarter and attendance and consumer spending rose.

Disney’s domestic parks eased restrictions in April, which led to a boost in attendance. While guest capacity wasn’t at peaks seen before the pandemic, it’s improving as mask mandates were loosened during the quarter.

The resurrection of the theme park industry is critical to Disney’s bottom line. After all, in 2019, the segment, which includes cruises and hotels, accounted for 37% of the company’s $69.6 billion in total revenue.

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