Disney posts strong Q3 earnings as streaming and theme parks accelerate

Disney reported fiscal third-quarter adjusted earnings of $2.06 per share, exceeding Wall Street's expectation of $1.86. Revenue reached $25.25 billion, up 7% year-over-year but slightly below the $25.40 billion estimate. The entertainment segment benefited from Toy Story 5 surpassing $1 billion globally, while direct-to-consumer streaming revenue climbed 11% to $5.53 billion driven by subscriber growth, pricing increases, and advertising expansion. Theme parks segment revenue jumped 10% to nearly $10 billion on strong domestic attendance and per-capita spending growth. The company raised its full-year share repurchase target to at least $9 billion and announced a broader ESPN partnership with TikTok for content sharing.

1. Disney reported adjusted EPS of $2.06, beating the consensus estimate of $1.86 in fiscal Q3 2026.
2. Revenue rose 7% year-over-year to $25.25 billion, slightly below the $25.40 billion analyst estimate.
3. Direct-to-consumer streaming revenue increased 11% to $5.53 billion.
4. Experiences segment revenue grew 10% to approximately $10 billion.
5. Toy Story 5 surpassed $1 billion in global box office sales.
6. U.S. park attendance increased 3% and per-capita guest spending rose 4%.
7. Disney raised fiscal 2026 share repurchase target to at least $9 billion from $8 billion.
8. The company reiterated double-digit adjusted EPS growth guidance for fiscal 2027.