Disney Streaming Margins and Parks Business in Focus Ahead of Earnings
Walt Disney Co is set to report fiscal third-quarter results on August 5, with UBS analysts forecasting accelerating earnings growth. UBS expects revenue of $25.4 billion and segment operating income of $5.16 billion, slightly below company guidance of $5.3 billion. Earnings per share are projected at $1.91, above consensus estimates and up 18% year-over-year. Growth is expected to be driven by high single-digit expansion in the Experiences segment and double-digit growth in streaming, while Sports operating income is forecast to decline by mid-teens due to higher sports rights costs. Streaming operating margins are expected to improve by 350 basis points to 10.1%. Theatrical performance is mixed, with strong results from 'The Devil Wears Prada 2' and 'Toy Story 5' offset by weaker performances from 'Star Wars: The Mandalorian & Grogu' and live-action 'Moana'. For fiscal 2026, UBS maintains EPS forecast of $6.90, representing 16% growth.
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