Disney Theme Parks Hit Record Revenue but Face “Headwinds” from International Guests at U.S. Parks

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The Walt Disney Company reported solid fiscal first‑quarter results on Monday, surpassing Wall Street expectations. Its experiences division—which includes its theme parks, cruise ships, hotels, and consumer products—achieved record revenue, though the company warned that weaker international tourism could slow growth at its U.S. parks in the near term.

Disney’s experiences division surpassed $10 billion for the first time in the company’s more than 100-year history. The division’s operating income reached $3.3 billion, marking a 6% increase compared with the same period the previous year.

Disney’s domestic theme park and experiences revenue rose 7% during the quarter, reaching $6.91 billion, while its international parks and experiences revenue also grew 7%, hitting $1.75 billion in the first fiscal quarter.

This segment has seen a surge since the COVID-19 pandemic and remains a major driver of Disney’s earnings. For the period ended December 27, it made up 38% of the company’s total revenue but contributed 71% of its operating income.

Despite these gains, Disney flagged a major concern on its earnings call: “international visitation headwinds” at its U.S. theme parks. The company said these headwinds are expected to temper growth in the experiences segment.

“We expect modest segment operating income growth in Q2 due to a combination of factors, including international visitation headwinds at our domestic parks, pre-launch costs for the Disney Adventure at Disney Cruise Line, and pre-opening costs for World of Frozen at Disneyland Paris. We continue to monitor international visitation to our domestic parks and adjust our strategy. We are pleased with the forward-looking indicators we are seeing for the balance of the fiscal year, including room bookings at Walt Disney World, which for the year are pacing up 5%, weighted to the back half of the year.”

Industry data shows that foreign travel to the United States fell last year. The World Travel & Tourism Council reported a 6% decrease in foreign visitors, with analysts attributing the drop to tariffs and geopolitical tensions linked to the Trump administration’s policies. A January 2026 Business Insider article reported that visits by international travelers to the U.S. declined for the eighth consecutive month in December 2025.

To combat that trend, Disney said it is shifting more of its marketing toward domestic customers. At the same time, the company can tap into the foreign market through new offerings at its international parks and cruise sailings in global markets. Despite these challenges, Disney expects modest growth from its parks business.

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