Disney said it would double spending on theme parks, resorts and cruise lines to $60 billion over the next decade, sending its shares lower despite a boost from business units that have driven profit growth in the past year.
Disney shares fell more than 3% following Tuesday’s announcement and have fallen nearly 25% in the past year.
Disney theme parks performed strongly in 2022 as fans returned after Covid-19 shutdowns, and international parks saw a similar rebound this year, particularly in Shanghai.
Disney’s streaming business continues to lose money and box office disappointments come amid strength in the parks.
Svlook
