The Walt Disney Company stock closed last night at $113.3 a share before reporting their earnings for the first quarter (Q1) of fiscal year 2025 which ended on December 28, 2024. According to the earnings report, revenues increased 5% for Q1 to $24.7 billion from $23.5 billion in Q1 fiscal 2024. Income before income taxes increased 27% for Q1 to $3.7 billion from $2.9 billion in Q1 fiscal 2024. Diluted earnings per share (EPS) increased 35% for Q1 to $1.40 from $1.04 in Q1 fiscal 2024. Total segment operating income increased 31% for Q1 to $5.1 billion from $3.9 billion in Q1 fiscal 2024 and adjusted EPS increased 44% for Q1 to $1.76 from $1.22 in Q1 fiscal 2024.
“Our results this quarter demonstrate Disney’s creative and financial strength as we advanced the strategic initiatives set in motion over the past two years,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “In fiscal Q1 we saw outstanding box office performance from our studios, which had the top three movies of 2024; we further improved the profitability of our Entertainment DTC streaming businesses; we took an important step to advance ESPN’s digital strategy by adding an ESPN tile on Disney+; and our Experiences segment demonstrated its enduring appeal as we continue investing strategically across the globe. Overall, this quarter proved to be a strong start to the fiscal year, and we remain confident in our strategy for continued growth.”
At Experiences, Domestic parks and experiences’ operating results for the current quarter were unfavorably impacted by Hurricane Milton and, to a lesser extent, Hurricane Helene. As a result of Hurricane Milton, Walt Disney World Resort was closed for a day and Disney Cruise Line canceled a cruise itinerary. Operating results at Disney’s domestic parks and experiences decreased compared to the prior-year quarter due to increased guest spending, higher costs primarily due to the fleet expansion at Disney Cruise Line and inflation, and lower volumes attributable to declines in attendance, reflecting the impact of the hurricanes.
The increase in operating income at Disney’s international parks and experiences was primarily attributable to growth in guest spending, higher volumes primarily attributable to an increase in attendance, and an increase in costs primarily due to new guest offerings.
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Experiences saw operating income of $3.1 billion comparable to Q1 fiscal 2024, reflecting a 6 percentage-point adverse impact to year-over-year growth due to Hurricanes Milton and Helene (~$120 million impact) and pre-opening expenses (~$75 million impact in Q1 fiscal 2025) driven by the launch of the Disney Treasure.
Domestic Parks & Experiences operating income declined 5%, reflecting a 9 percentage-point adverse impact to year-over-year growth due to the hurricanes and cruise pre-opening expenses. International Parks & Experiences operating income increased 28% vs. Q1 fiscal 2024
There were no additional details regarding Disney Cruise Line in the press release. We will update this post if we hear anything during the earnings call and Q&A.
For more information and an overall report click over to the Q1-2025 Earnings Report.
Up next for The Walt Disney Company is the Annual Meeting of Shareholders on March 20th.
Appeared first on: Disneycruiselineblog.com