The Walt Disney Company has reported its Q3 2025 earnings, and the theme park division had a strong showing. A particular highlight was the domestic theme parks, which saw a whopping 22% increase in operating income against a 10% increase in revenue. The reporting quarter ended June 28, 2025 – roughly one month after Universal Epic Universe officially opened. Against strong earnings, Disney took the opportunity to take a bit of a shot at Universal’s newest theme park in the prepared executive commentary.
Disney Takes Shot at Epic Universe Following Strong Theme Park Earnings
In prepared remarks, Disney noted that the results for the theme park division were “driven by strong Domestic Parks & Experiences results”. Disney noted that operating income at the domestic parks and experiences grew 22% compared to the prior-year quarter. Disney says that the domestic theme parks and Disney Cruise Line, which falls under this division, played a critical role in the results.
Disney then went on to underline that it is pleased with the results. They went a step further, noting that they are encouraged by the continued resilience of the domestic theme parks. Taking it even further, Disney singled out the “increased competition in the Orlando market”, saying that they were particularly happy with Walt Disney World results following the grand opening of Epic Universe. Here’s the quote.
We are pleased with these results and encouraged by the continued resiliency of our domestic parks business, particularly at Walt Disney World given increased competition in the Orlando market.
There was a lot of pre-opening chatter about what impact Epic Universe may have on Walt Disney World, with some analysts saying that Walt Disney World could see a decline of roughly 1 million guests once Epic Universe opened. Yes, the Q3 earnings only account for roughly one month of Epic Universe being open (and weeks of previews), but so far, Disney has not seen a decline in attendance. To be fair, Disney hasn’t seen much growth either, so it’s possible that the lack of growth could be where the delta is – we’ll have to see if analysts ask any attendance questions during the upcoming Q&A on earnings.
Either way, the most recent earnings report and accompanying executive commentary are clear: there is no major effect from Epic Universe on Walt Disney World right now.
Over at Comcast, the company reported a revenue boost from the opening of Epic Universe and outlined some of the challenges that the young theme park faces in the months ahead.
For more on Universal Epic Universe, check out our page below!
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