Why Disney’s Earnings Report Is A Good Sign For The U.S. Economy
It’s been a very good quarter for Disney Parks.
Joshua Sudock/Walt Disney World Resorts
Disney shares are up 5% following Wednesday’s third-quarter earnings report that surpassed expectations, largely due to higher spending at the company’s domestic theme parks.
But might Disney’s success also say something about the current state of the U.S. economy? Experts often view Disney’s theme parks as bellwether economic indicators, as the Financial Times explained several years ago. Essentially, the theory goes that when budgets tighten, families cancel trips to Disney theme parks. That does not appear to be happening right now.
What a difference a year makes. This time last summer, most of Disney’s theme parks were running at reduced capacity due to the pandemic and Disney Cruise Line was not operating at all.
Flash forward to Wednesday’s earnings call, where company executives announced that revenue for…
