Walt Disney reported a decline in visitor numbers at its US theme parks in the first quarter as new chief executive Josh D’Amaro contends with a squeeze on consumer spending exacerbated by the Iran war.
Disney said on Wednesday that attendance at its US parks fell 1 per cent in the three months to the end of March, compared with a year ago, dragged down by a drop in international visitors as higher travel costs bite.
Despite that, revenues at the US entertainment giant rose 7 per cent to $25.2bn, slightly ahead of analyst forecasts, while net income of $2.5bn also beat expectations. Total global guest numbers, including cruise passengers, rose by 2 per cent.
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