EarningsQ3 2026 Earnings Report
MX:DIS Q3 2026 EPS Results
Actual EPS$37.45
Consensus EPS$33.74
Beat/MissBeat by +$3.71
One Year Ago EPS$29.27
MX:DIS Q3 2026 Revenue Results
Actual Revenue$460.64B
Expected Revenue$461.58B
Beat/MissMissed by -$942.96M
YoY Revenue Growth+7.48%
Earnings Announcement Details
QuarterQ3 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:DIS Upcoming Earnings
Walt Disney's next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:DIS Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple clear operating and financial wins — record Experiences revenue/OI, double-digit OI growth in key segments, strong guest and per-cap metrics, streaming margin progress, and advertising/upfront strength — while acknowledging targeted challenges: mixed box office results for select titles, under-monetized international streaming markets, Asia park softness, ad pricing pressure from increased supply, and remaining systems integration work. Management emphasized disciplined capital allocation, continued content and CapEx investment, and technology/AI initiatives to drive future efficiency and growth.Company Guidance
Total Company Revenue Growth
Total company revenue grew 7% year-over-year in fiscal Q3, with total segment operating income up 21% and coming in ahead of prior guidance.
Record Performance — Disney Experiences
Disney Experiences delivered record fiscal Q3 revenue and segment operating income; segment revenue was $10.0 billion, up 10% versus prior-year Q3, driven by global guest growth, expanded cruise capacity and new attractions.
Guest and Spending Metrics — Parks Strength
Global guests increased 4% year-over-year; domestic parks attendance rose 3% in Q3; domestic per capita spending grew 4%, supporting both volume and yield expansion.
Box Office and IP Success — Toy Story 5
Toy Story 5 surpassed $1 billion at the global box office; the five Toy Story films have collectively exceeded $4 billion global box office, delivered over 2 billion hours streamed on Disney+, and the franchise drives >$1 billion in annual global retail sales.
Sports Viewership Surge
NBA Finals and NHL post-season viewership across ESPN and ABC grew over 100% versus prior season; this was the most viewed fiscal Q3 across ESPN, ESPN2 and ESPN on ABC since 2016, strengthening advertising and engagement opportunity.
Streaming Operational Progress and Margins
Reached key Disney+/Hulu app-unification milestone (linked profiles), delivered a 13% SVOD operating margin in fiscal Q3, and remain on track for double-digit DTC margins in fiscal 2026 excluding the 53rd week.
Bundle Dynamics and Churn Benefits
The Trio bundle (Disney+, Hulu, ESPN Unlimited) shows materially lower churn versus stand-alone products in similar tenure cohorts, demonstrating upsell and retention advantages.
Capital Allocation — Buybacks, CapEx, and Content Investment
Fiscal 2026 plans include at least $9 billion in share repurchases (up from prior guidance), approximately $24 billion of content spend, and roughly $9 billion of CapEx for Experiences — reflecting simultaneous investment and shareholder returns.
Advertising Momentum and Upfront Results
Upfront volume commitments were up double digits year-over-year; sports ad volumes were up low-teens; Super Bowl inventory sold out, supporting near-term ad revenue strength.
Confidence in Cruise and Experiences Pipeline
Management expressed high confidence in cruise ship build timelines and emphasized disciplined CapEx approvals across an Experiences pipeline that includes Villains Land, Avengers Campus expansion, and international projects.
Technology and AI Adoption
Company is leveraging AI across studios, streaming personalization, ad creative, and parks/Imagineering to accelerate production, improve personalization, increase productivity, and enable new fan experiences (examples include improved VFX, denoising, and 'SportsCenter for you').
MX:DIS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed