Disney reported better-than-expected second-quarter results, driven by momentum across entertainment, sports, and experiences, while reaffirming its positive outlook for the year.
"At an important moment of change for Disney, we remain focused on executing our long-term growth strategy," Disney wrote at the beginning of the earnings release.
The entertainment company continued, "Our creative and operational momentum drove strong quarterly results, and we continue to expect growth to accelerate in the second half of the fiscal year."
"We are strengthening streaming through continued investment in the creative storytelling that defines us and in product and technology innovation, while advancing ESPN's direct-to-consumer future and delivering on our bold growth plans at Disney Experience," the introduction to the earnings release concluded.
Here's a snapshot of the second quarter, courtesy of Bloomberg:
Adjusted EPS $1.57, estimate $1.51 (Bloomberg Consensus)
Revenue $25.17 billion, +6.5% y/y, estimate $24.87 billion
Total segment operating income $4.60 billion, +3.8% y/y, estimate $4.38 billion
Disney expects 2026 adjusted EPS growth of around 12%, excluding the impact of a 53rd week, or about 16% including it. It also plans to repurchase at least $8 billion in shares this year and continues to expect double-digit adjusted EPS growth in fiscal 2027.
Disney shares jumped as much as 8% in premarket trading in New York. The stock remains roughly 50% below its 2021 peak and is still locked in a narrow 3.5-year trading range, oscillating between about $80 and $120.
Source: ZeroHedge News
