Walt Disney Co.’s parks and resorts division, which includes Anaheim’s Disneyland Resort, first quarter revenue rose 5% to $6.8 billion while operating income increased 10% to $2.2 billion from the same period a year earlier.
The company attributed the division’s growth to a boost in visitors who paid higher prices for both tickets and hotel rooms.
Domestic theme parks and Hong Kong Disneyland Resort offset lower results from Shanghai Disney Resort and Disneyland Paris.
Disney (NYSE:DIS) invested $1 billion in its parks and resorts during the first quarter, up from $795 million during the same period last year.
Total quarterly profit dropped 37% to $2.8 billion as revenue was flat at $15.3 billion for the quarter ending Dec. 29. Earnings per share of $1.84 beat analysts’ estimates and shares rose slightly in after-hours trading.