Disney Q2 2026 Earnings: Streaming Profit Surges, Parks Keep Growing

May 6, 2026 · Published August 7, 2026

Disney's revenue grew 7% to $25.2 billion as streaming turned solidly profitable and parks kept growing, though a larger tax bill pulled reported net income down.

Figures as reported by the company to the SEC for the quarter ended March 28, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.

Key takeaways

• Revenue reached $25.17 billion for the quarter, up 7% from $23.6 billion a year earlier, with growth coming mainly from streaming and theme parks.
• Diluted earnings per share fell to $1.27 from $1.81 a year earlier, as net income dropped about 31% to roughly $2.25 billion, largely because of a bigger tax bill this quarter.
• On an adjusted basis — a company measure that excludes one-time items — EPS was $1.57, up from $1.45 a year earlier, reflecting stronger underlying operating performance even as the tax charge weighed on the official GAAP number.
• The streaming business (Disney+ and Hulu) had its strongest quarter yet: revenue rose 13% to $5.49 billion and operating income jumped 88% to $582 million, pushing the operating margin above 10% for the first time — a level management says it aims to hold for the full year.
• Disney has stopped disclosing subscriber counts for its streaming services, so investors are now tracking the business mainly through revenue and profit trends rather than sign-up numbers.
• The Parks & Experiences division (theme parks and cruise ships) generated about $9.5 billion in revenue, up 7%. Global attendance rose 2%, though domestic parks saw a slight 1% dip that management linked to softer international travel.
• Management raised its full-year share buyback target to at least $8 billion, up from a prior $7 billion goal, and reaffirmed guidance for about 12% growth in adjusted EPS this fiscal year and double-digit adjusted EPS growth again next year.
• Trailing-twelve-month margins show a company still solidly profitable but not at peak levels: about 13.7% of revenue converts to operating profit and 8.7% to net profit after all costs and taxes, while return on equity — how efficiently Disney turns shareholder capital into profit — sits near 7.9%.
• Trailing 12-month earnings per share are down about 24% versus a year ago even though trailing revenue is still growing (up roughly 4.6%), a gap this quarter’s tax-driven net income decline contributed to.

Q2 2026 in context

Figures for the quarter ended Mar 2026 and the quarter ended Mar 2025, as reported to the SEC.

How the stock took it

Walt Disney Co closed at $100.48 on May 5, 2026, the last session before the report, and at $108.66 on May 7, 2026, the first session after it — +8.1% across the report.

Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.

Financial history →

Sources: company report · Variety · Yahoo Finance