Disney Parks & Resorts has announced its financial results for the third quarter of 2023, showcasing a remarkable 13% increase in revenue, totaling an impressive $8.3 billion. This achievement is seen as a testament to the ongoing transformation efforts and commitment to restoring creativity at the core of Disney's business.
CEO Bob Iger expressed his satisfaction with the company's progress, stating, "Our results this quarter are reflective of what we’ve accomplished through the unprecedented transformation we’re undertaking at Disney to restructure the company, improve efficiencies, and restore creativity to the center of our business."
In the eight months since his return, Iger highlighted the significant changes that have been implemented to create a more cost-effective and coordinated approach to operations. These changes have also led to improved direct-to-consumer operating income, which has seen an increase of approximately $1 billion over just three quarters.
While acknowledging that there is still more work to be done, Iger expressed unwavering confidence in Disney's long-term trajectory. He credited the success to the hard work of the team and the company's foundation of creative excellence and popular brands and franchises.
Disney's constant dedication to innovation and enhancing guest experiences has played a significant role in driving this impressive growth. The company continues to invest in new attractions, immersive experiences, and technological advancements to captivate audiences worldwide.
With this strong financial performance, Disney Parks & Resorts is poised to continue enchanting guests and delivering magical experiences while maintaining its position as a global leader in the entertainment and hospitality industry.
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