Disney tops earnings estimates as parks and streaming boost results

On August 5, 2026, Disney reported fiscal third-quarter earnings that trounced Wall Street estimates, lifted by a 10% revenue jump at its theme parks and an 11% gain in streaming, while overall revenue fell slightly short of forecasts.

Revenue in the experiences segment, which includes global theme parks and cruises, rose to $9.97 billion. CFO Hugh Johnston told CNBC that U.S. park attendance grew 3% and per capita spending increased 4%, citing “very strong attendance” at Walt Disney World in Orlando. In July 2026, Comcast’s NBCUniversal reported lower attendance at its Florida parks, blaming weak consumer sentiment and higher travel costs.

The streaming business, primarily Disney+ and Hulu, saw revenue climb 11% to $5.53 billion, driven by more subscribers, price increases, and higher advertising income. The broader entertainment segment, which also covers traditional TV and theatrical releases, grew 6% to $11.35 billion, helped by the animated film “Toy Story 5” surpassing $1 billion at the global box office. Disney no longer discloses some segment details, such as linear TV network financials or quarterly streaming subscriber numbers.

Companywide revenue advanced 7% to $25.25 billion for the quarter ended June 27, 2026. Net income fell to $2.64 billion, or $1.51 per share, from $5.26 billion a year earlier, when the company booked one-time tax benefits from acquiring Comcast’s Hulu stake. Excluding restructuring and other items, adjusted earnings per share rose to $2.06 from $1.61.

The sports segment, led by ESPN, posted a 4% revenue increase to $4.5 billion, fueled by subscription and affiliate fees and advertising. Johnston noted viewership for the NBA and NHL Finals surged more than 100% from the prior year.

This marks the second quarterly report under CEO Josh D’Amaro, who succeeded Bob Iger. Disney now aims for at least $9 billion in share repurchases in fiscal 2026, buoyed by the roughly $1.2 billion sale of its 50% stake in A+E Global Media to Hearst. The company also plans to move its consumer products business from the experiences segment to the entertainment unit starting in the first quarter of fiscal 2027, saying it sees benefits from aligning studios and merchandise.

Disney also announced a global deal with TikTok to bring curated fan-created content to Disney, as media companies compete for younger audiences on platforms like YouTube and TikTok.