Overview
- Revenue came in at $22.46 billion, roughly flat year over year and below estimates, while adjusted EPS of $1.11 topped forecasts.
- Direct-to-consumer operating income rose 39% to $352 million as Disney+ and Hulu reached a combined 196 million subscribers in the final quarter Disney will disclose streaming subscriber and ARPU figures.
- Parks and Experiences generated $1.88 billion in operating income, up 13% in Q4, contributing to a record $10 billion for the full year.
- Linear television continued to erode, with domestic networks revenue down 16% and operating income down 21%, and entertainment operating income fell 35% on softer theatrical results versus last year’s blockbusters.
- The board raised the annual dividend to $1.50 and doubled planned buybacks to $7 billion for fiscal 2026, as management reiterated guidance for double-digit adjusted EPS growth in 2026 and 2027; shares fell about 8% after the report.