Today, The Walt Disney Company reported its Q4 earnings, and they fell short of expectations for profit and key revenue segments, including Disney Parks, Experiences, and Products.
This is despite the Disney Parks division of the company posting $7.4 billion in the fourth quarter of 2022 and a whopping $28.7 billion in revenue for fiscal year 2022.
Disney said that Disney Parks, Experiences, and Products operating income margin (Domestic) for Q4 2022 was 15%.
However, in Q3 2022, the company reported a 30% operating income and Q2 saw 28%.
That’s a 50% difference from the last quarter.
During an earnings call this afternoon, Christine McCarthy, Chief Financial Officer of The Walt Disney Company, stated that a $65 million loss was due to Hurricane Ian that hit Florida this past September.
Here’s the comment:
Our domestic parks delivered significant year-over-year revenue, and operating income growth, despite an adverse impact of approximately 65 million dollars to segment operating income from Hurricane Ian.
Walt Disney World was closed for only two days due to Hurricane Ian.
