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Disney Parks are doing better than expected, analyst says

Disney is doing better than people anticipated as its stock continues to rise

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In this March 13, 2020 file photo, visitors take photos at Disneyland in Anaheim, Calif., the last day the park was open due to the COVID-19 pandemic

In this March 13, 2020, file photo, visitors take photos at Disneyland in Anaheim, Calif., the last day the park was open due to the COVID-19 pandemic.

Amy Taxin, Associated Press

It looks like Disney Parks are rebounding a little better than expected from the coronavirus pandemic.

What’s going on

Disney’s Parks, Experiences and Products has reportedly done better than expected in the first quarter of 2021, per The Orange County Register.

The parks have seen increased attendance, higher visitor spending numbers and some cost-cutting moves that have helped soften the blow of a $2.6 billion operating cost.

  • “Parks rebounded faster than expected in the quarter,” Rosenblatt Securities analyst Bernie McTernan wrote in a report, according to The Orange County Register.

Of course, this is without Disneyland in California, which remains closed because of the coronavirus pandemic. However, Walt Disney World in Florida and the Downtown Disney area of the California theme park remain open and thriving right now, which I’ve written about for the Deseret News.

More on Disney

The Walt Disney Company saw its stock prices rise on Wednesday, outperforming some other companies on the market, according to MarketWatch.

  • The company saw a slight rise that broke a two-day losing streak for the company. The company’s stock is at $186.44, which is $7.41 short of its high ($192.85) last seen on Feb. 12, 2020, before the pandemic, according to MarketWatch.

Disneyland has been closed since March of the pandemic. It’s unclear when it will reopen. California Adventure Park will have a limited event in March, though.