The Walt Disney Company's Experiences segment reported a record-breaking quarter. The segment, which includes theme parks and cruise lines, generated nearly $10 billion in revenue. Operating income reached $3 billion. Revenue grew 10% year-over-year. Operating income increased 20%. A 9% rise in theme park admissions drove this growth. Its cruise line business also performed strongly.
The Experiences segment accounted for 54% of Disney's total operating income for the quarter.
Disney's stock trades at a modest forward earnings multiple. This suggests investors may not expect significant growth. The valuation presents a potential opportunity for long-term investors. Continued growth in Disney's entertainment platforms could lead to a market reevaluation of the stock.
Separately, First Bancorp Inc ME purchased 4,800 shares of Disney stock. This new stake is valued at approximately $462,000.