Disney beats expectations on record parks revenue, streaming
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The news: Walt Disney beat sales and profits estimates for the first fiscal quarter, as its park division posted a record USD10 billion ($14.41 billion) in revenue.
The numbers: The entertainment company said on Monday its domestic theme parks recorded USD6.91 billion in revenue, while its international parks reported USD1.75 billion in revenue, each up 7% compared with the year prior.
Overall revenue for the company’s fiscal first quarter came in at roughly USD26 billion, up 5% year over year.
Adjusted earnings per share in the period were USD1.63, beating the average analyst estimate of USD1.56, Bloomberg reported.
Disney said operating income from its Disney+ and Hulu streaming services increased 72% from the same period last year, to USD450 million.
The context: The company is due to hold its board meeting this week, where it is expected to vote on a successor to current CEO Bob Iger.
Without commenting on who is expected to replace Iger, CFO Hugh Johnston told CNBC: “Turbocharging the parks, bringing streaming to profitability and double-digit margins, and improving the theatrical business, bodes well for a new CEO.”
For Disney’s fiscal 2026 outlook, the company said it is on track to repurchase USD7 billion in stock and expects double-digit growth in adjusted earnings per share as well as USD19 billion in cash provided by operations.
The sources: Walt Disney earnings, CNBC, Bloomberg
