{"text":[[{"start":7.75,"text":"Walt Disney reported a decline in visitor numbers at its US theme parks in the first quarter as new chief executive Josh D’Amaro contends with a squeeze on consumer spending exacerbated by the Iran war."}],[{"start":21.05,"text":"Disney said on Wednesday that attendance at its US parks fell 1 per cent in the three months to the end of March, compared with a year ago, dragged down by a drop in international visitors as higher travel costs bite."}],[{"start":34.35,"text":"Despite that, revenues at the US entertainment giant rose 7 per cent to $25.2bn, slightly ahead of analyst forecasts, while net income of $2.5bn also beat expectations. Total global guest numbers, including cruise passengers, rose by 2 per cent."}],[{"start":53.2,"text":"In a letter to investors, D’Amaro said demand at Disney’s US parks and resorts remains “healthy”, but added that “we are mindful of the macroeconomic uncertainty consumers are facing today”. "}],[{"start":65.15,"text":"Long wait times at customs and a rise in anti-American sentiment have driven a decline in foreign visitors to the US. International tourist arrivals to the country fell by 5.5 per cent in 2025, according to UN Tourism. Disney predicted attendance at its US parks would improve in the June quarter."}],[{"start":84.5,"text":"The company’s results, the first under D’Amaro’s leadership, land against a gloomy backdrop. The Middle East war has pushed up fuel costs and clouded the outlook for Disney’s crucial theme parks business, which generates the bulk of its profits. April’s University of Michigan consumer sentiment index slumped to a record low. "}],[{"start":103.45,"text":"“Families planning future excursions will face sharply higher travel costs, including airline tickets, at a time when budgets are already under pressure from higher energy prices,” MoffettNathanson analysts said in a recent note."}],[{"start":116.60000000000001,"text":"The quarter marks an early test for D’Amaro, who took over from Bob Iger in March after a protracted succession process. Investors are looking for signs he can steady the business amid economic uncertainty, a lagging share price and political pressure from US President Donald Trump."}],[{"start":133,"text":"Disney shares have fallen 10 per cent this year, compared with a 6 per cent gain in the S&P 500 Index. "}],[{"start":139.85,"text":"Revenue from the company’s theme parks and cruise division increased 7 per cent to $9.5bn in the first quarter, driven by higher guest spending."}],[{"start":150.1,"text":"Disney’s film and television unit reported revenue of $11.7bn, up 10 per cent, as streaming revenue grew 13 per cent. The company pointed to Zootopia 2 on Disney+ and Hulu’s Love Story: John F Kennedy Jr and Carolyn Bessette as among the quarter’s streaming hits."}],[{"start":177.25,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1778067598_9855.mp3"}