The Walt Disney Company delivered impressive second-quarter results on May 6, 2026. New CEO Josh D'Amaro, who succeeded Bob Iger in March, addressed investors for the first time. The company reported $25.17 billion in revenue, surpassing Wall Street forecasts. Adjusted earnings per share reached $1.57, beating analyst expectations of $1.50. Shares of the entertainment giant surged approximately 7% following the announcement.
Disney's streaming business was a standout performer during the quarter. Subscription video-on-demand operating income soared 88% to $582 million year over year. Streaming revenue growth had been bolstered by recent price adjustments and international expansion. The entertainment segment, which includes streaming and film releases, saw revenue climb 10%. Box-office successes, including Zootopia 2, also contributed to the strong results.
The experiences division, encompassing theme parks and cruises, achieved record quarterly revenue. Revenue for this segment grew 7% to nearly $9.5 billion. However, domestic park attendance declined 1%, partly due to fewer international visitors. Despite macroeconomic headwinds, consumer spending at the parks remained resilient. Disney's leadership expressed confidence that attendance trends would improve in coming quarters.
D'Amaro outlined a three-pillar strategy focused on intellectual property, consumer engagement, and technology. He described Disney+ as the future digital centerpiece connecting stories, experiences, and games. The company reaffirmed its guidance for 12% adjusted earnings growth in fiscal 2026. Furthermore, Disney increased its share repurchase target to at least $8 billion. Had the company not invested heavily in streaming, it might have missed this pivotal growth opportunity.