The Walt Disney Company has reported stronger-than-expected quarterly results, with Disney+ and the group’s wider streaming operations continuing to improve profitability and subscriber momentum.
Revenue for Disney’s fiscal second quarter rose 7% year-on-year to $25.2 billion (€23.4 billion), while adjusted earnings per share reached $1.57, ahead of analyst expectations.
The company’s direct-to-consumer division, which includes Disney+, Hulu and ESPN streaming operations, saw operating income increase 88% year-on-year to approximately $582 million.
Disney said subscriber growth at Disney+ exceeded expectations during the quarter, helping offset continuing declines in its linear television business.
“Our streaming business continues to strengthen and we remain confident in the long-term trajectory of Disney+ and our broader direct-to-consumer strategy,” said CEO Josh D’Amaro.
The results were the first presented under D’Amaro, who outlined a strategy focused on streaming profitability, platform integration and personalised audience engagement.
Disney is continuing to deepen integration between Disney+, Hulu and ESPN streaming products as part of a broader bundled ecosystem strategy spanning subscription services, advertising and user data.
The company also highlighted investment in recommendation technology, gaming integration and the future expansion of ESPN’s direct-to-consumer proposition.
Disney expects adjusted EPS growth of around 12% for full-year fiscal 2026.
The results exceeded Wall Street expectations, driven in part by improved streaming economics and stronger subscriber performance.
