Disney's stock price surged by 10% after the company announced strong quarterly earnings and unveiled plans for its first new theme park in 15 years on Yas Island, UAE. The new resort, developed in conjunction with Miral Group, will feature innovative architecture and immersive experiences. Despite the promising earnings report, Disney acknowledged ongoing uncertainties in the market. Notably, they reported a 7% revenue increase to $23.6 billion and significant growth in streaming subscriptions for Disney+ and Hulu.
Our resort in Abu Dhabi will be the most advanced and interactive destination in our portfolio, said chairman of Disney Experiences, Josh D'Amaro.
As our seventh theme park destination, it will rise from this land in spectacular fashion, blending contemporary architecture with cutting edge technology to offer guests deeply immersive entertainment experiences in unique and modern ways, said CEO Bob Iger.
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