by Donald Wood
Last updated: 11:56 AM ET, Fri August 13, 2021
Disney announced that its parks, experiences and products division reported a third-quarter profit despite continued concerns surrounding coronavirus and the highly contagious Delta variant.
According to CNBC.com, Disney CEO Bob Chapek said during an earnings call the company remains optimistic for the future, as the current reservation numbers are already above third-quarter attendance levels.
While Chapek and other Disney officials remain optimistic, he said the rising number of COVID-19 cases have caused some group and convention cancellations. The success of the parks, experiences and products division is imperative to the company's success, as it accounted for 25.5 percent of Disney's revenue in the third quarter.
Disney's parks, experiences and products division reported that third-quarter revenue increased 307.6 percent to $4.3 billion, up from $1.06 billion earned during the same period in 2020. In 2019, the segment accounted for 37 percent of the company's $69.6 billion in total revenue.
Domestic theme parks, resorts and experiences reported positive operating income of $2 million, the company's first recorded profit since the coronavirus pandemic essentially shut down the travel industry.
Walt Disney World Resort in Orlando and Shanghai Disney Resort were open for the entire third quarter, while Disneyland in California was open 65 days during the quarter and Disneyland Paris was open for 19 days.
To keep guests and employees safe, both Disneyland and Walt Disney World require face coverings to be worn by anyone aged two years old and up in all indoor venues.
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