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The Walt Disney Co. on Thursday revealed that its theme parks made a profit for the first time since the pandemic rocked the globe last year.
Disney Parks, Experiences and Products swung to a $356 million profit in the quarter ending July 3, compared with a $1.87 billion loss in the same period in 2020. Revenue totaled $4.3 billion as compared with $1.06 billion in the quarter ending in June last year.
All of Disney theme parks shuttered last year as the pandemic took hold of the world. The locations slowly reopened with strict health and safety measures in place. The last park to once again welcome back guests was Disneyland in Southern California, which reopened in late April.
“We see strong demand for the parks continuing,” said CEO Bob Chapek of the pandemic continuing to wreak havoc around the globe. He added that the Delta variant has not impacted the demand from families, but has led to some business conference cancellations.
The reopenings have not been without hurdles. Disneyland Paris and Hong Kong Disneyland were both forced to reclose for a portion of the time after reopening due to spikes in COVID-19 cases. And Disneyland and Walt Disney World recently once again required all guests — regardless of vaccination status — to wear masks indoors.
Christine M. McCarthy, Disney CFO, said all theme parks will be fully staffed by the end of the year, and capacity at parks will be increased “in a measured fashion.”
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