“While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again.” “Our results this quarter reflect the significant progress we’ve made over the past year,” Iger said in a statement. For the year, Disney pulled in $88.9 billion, an increase of 7% from the previous year. Overall, the company reported revenue of $21.2 billion during the quarter, an increase of 5%. Earlier this year, as part of Disney’s initial $5.5 billion cost-cutting measures, the company eliminated 7,000 jobs. The company also said it plans to expand its cost-cutting plan by slashing an additional $2 billion, bringing its total savings target to $7.5 billion. Gradual increases, he said, will happen in the first few years. Those investments, however, will start to ramp up on the “back half” of that 10-year timeline, according to Disney interim CFO Kevin Lansberry. “Given our wealth of IP (intellectual property), innovative technology, buildable land, unmatched creativity, and strong returns on invested capital, we’re confident about the potential from our new investments.” “As we announced in September, we plan to turbocharge growth in our Experiences business through strategic investments over the next decade,” Iger said. In September, Disney announced plans to invest roughly $60 billion in the parks division over the next 10 years - including “expanding and enhancing” its parks and cruise line. And while attendance and guest spending was up at Disneyland Resort in California, results were still weaker at Disney World in Florida.ĭuring the call with investors, Disney CEO Bob Iger also mentioned the company’s plans to turbocharge growth at its theme parks. Operating income for the division was $1.7 billion.ĭisney attributed the growth to higher results at its international parks and cruise line.

Just a little over $5 billion came from its domestic parks, while the international parks generated $1.6 billion. Revenue increased 13% to $8.16 billion during the quarter that ended Sept. Disney CEO Bob Iger reiterated the company's plans to turbocharge growth at the parks.The experiences division - which includes parks, resorts and the cruise line - continued to shine for the company, pulling in $8.16 billion in revenue.Overall, the company reported total revenue of $21.2 billion during the quarter and $88.9 billion for the fiscal year.Disney reported its fourth quarter earnings for 2023 on Wednesday.

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