Disney’s theme parks may have seen fewer visitors, but the company just made MORE money than ever.
The Walt Disney Company has released its latest quarterly earnings report, the first under CEO Josh D’Amaro, and the results are painting a fascinating picture of where Disney is headed next. While theme park attendance showed signs of slowing in some areas, Disney’s revenue and streaming business exploded, signaling a major shift in how the company is balancing parks, entertainment, and digital growth.
And investors seem pretty happy about it!
Disney reported stronger-than-expected earnings for its fiscal second quarter of 2026, bringing in $25.2 billion in revenue and adjusted earnings per share of $1.57. Both numbers beat Wall Street expectations.
This marks the first earnings report under Disney CEO Josh D’Amaro, who officially stepped into the role in March 2026 after Bob Iger’s departure.
In a shareholder letter released alongside the report, D’Amaro emphasized plans to continue investing heavily in Disney entertainment content, theme park experiences, technology, digital engagement, and streaming and gaming initiatives
Theme Park Attendance Slips — But Guests Are Spending MORE
One of the biggest takeaways from the report? Attendance at some Disney parks was down slightly, but guest spending continued climbing.
According to reports tied to the earnings release:
- Domestic park attendance softened in some areas
- International visitation to U.S. parks has remained weaker than expected
- But higher guest spending helped offset attendance declines
Disney’s Experiences division, which includes theme parks, resorts, Disney Cruise Line, and consumer products, still posted a 5% increase in operating income for the quarter.
Disney specifically noted higher guest spending inside U.S. parks, increased cruise ship demand and volume, and continued strong demand in Florida and California.
In other words, fewer people may be visiting in some cases, but those who are visiting are spending more money once they arrive.
Streaming Income Jumps by 88%
While the parks’ numbers were closely watched, the biggest growth story may actually be streaming.
Disney’s direct-to-consumer business (including Disney+ and Hulu) saw operating income surge by 88% year-over-year.
The increase was driven by higher subscription revenue, advertising growth, improved streaming profitability, and continued momentum from Disney+ and Hulu integration efforts.
This is especially significant because streaming losses were one of Disney’s biggest concerns just a few years ago. Now, the company appears to be moving firmly into profitable territory.
Disney Experiences Still Driving the Company
Even with attendance concerns, Disney’s parks and cruise business continues to be one of the company’s biggest financial engines.
Disney has repeatedly pointed to expansion projects across global parks, new cruise ships, and increased investment in experience as core parts of its long-term strategy.
D’Amaro also stated that Disney sees major opportunities to connect fans across both physical experiences (parks, cruises, resorts) and digital environments (streaming, gaming, apps).
What Josh D’Amaro Said About the Future
In his first major earnings communication as CEO, D’Amaro focused heavily on growth, technology, fan engagement, and storytelling expansion. He also acknowledged ongoing economic uncertainty while emphasizing that Disney still sees “healthy” demand at its domestic parks.
Disney now expects approximately 12% adjusted EPS growth for fiscal 2026 and continued double-digit growth heading into 2027. Following the earnings release, Disney stock rose in premarket trading as investors reacted positively to the results.
Disney’s latest earnings report shows a company in transition.
Theme park attendance may be softening in some areas, but higher guest spending, booming streaming profits, and strong cruise demand are helping push Disney to record-breaking revenue levels.
And with Josh D’Amaro now officially leading the company, this earnings report may be our clearest look yet at what the next era of Disney is going to look like.
We’ll be following all the latest Disney earnings updates, park news, streaming developments, and company changes — so be sure to check back soon for more Disney news you don’t want to miss!
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