The Q4 FY2024 earnings have been reported for The Walt Disney Company, with Disney Parks & Experiences bringing in $8.24 billion in revenue.

Analysts predicted a revenue of $8.2 billion, up from $8.16 billion in Q4 FY2023, but down from the $8.3 billion from Q3 FY2024. The report reads as follows.

The Experiences segment had record revenue and operating income for the full year. In Q4, Experiences revenue increased $0.1 billion, or 1%, and operating income of $1.7 billion was a decline of $0.1 billion, or 6% compared to the prior-year quarter. Domestic Parks & Experiences operating income increased in Q4, on comparable attendance to the prior-year quarter, driven by higher guest spending, partially offset by higher expenses and costs related to new guest offerings driven by Disney Cruise Line. International Parks & Experiences operating income declined in Q4.

The Parks division is still seeing a downturn from decreased demand. In Q2, CEO Bob Iger noted that attendance was “leveling out post-COVID.” In Q3, he warned investors that despite a 2% increase in revenue, operating income had dropped by 3%. Iger cited “demand moderation,” which they expect will affect the “next few quarters.” Disney’s report at that time predicted that Q4 would see a decline in mid-single digits versus 2023.

In Q3, they blamed some of the lower demand on lower-income consumers feeling greater financial stress, and higher-income consumers turning to international travel.

It was also estimated that Walt Disney World lost $200 million during closures from Hurricane Milton.

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