Walt Disney (DIS) Q3 FY26 earnings
Revenue $25.2B, up 7% from a year ago. Net income $2.6B.
Disney's quarter brought $25.2B of revenue, up 7% from a year ago, with Experiences growing 10% to 39% of revenue and $565M of intersegment sales eliminated in consolidation. Net income was $2.6B, down 50% Y/Y.
In fiscal 2025 Direct-to-Consumer earned $1.3B on $24.6B; Linear Networks earned $3.0B on $9.4B.
Fiscal 2025 was the last year Disney printed the Entertainment segment in three lines. Streaming revenue passed linear networks years ago; the operating income columns have not crossed — $1.3B against $3.0B. Both columns close on the filed totals to the dollar.
Spending on parks, resorts and other property rose to $8.02B in fiscal 2025, from $3.62B in fiscal 2017.
The filer's own investing line, drawn across this registrant's full 10-K record. Two dips sit inside an otherwise rising nine-year run, and fiscal 2025 is the largest figure on the chart.
Where the revenue came from
| Segment | Amount | % of revenue | Y/Y |
|---|---|---|---|
| Entertainment | $11.3B | 44.9% | +6% |
| Experiences | $10.0B | 39.5% | +10% |
| Sports | $4.5B | 17.8% | +4% |
Income statement, line by line
| Line | Amount | % of revenue | Y/Y |
|---|---|---|---|
| Revenue | $25.2B | +7% | |
| Operating expenses | $21.7B | 85.9% | — |
| Pretax income | $3.6B | 14.4% | — |
| Income tax | $801M | 3.2% | — |
| Net income | $2.6B | 10.4% | -50% |
— means the filing states no comparable prior-year figure for that line, so we do not compute one.
The filing also prints consolidated net income of $2.8B, of which $206M belongs to outside co-owners of Walt Disney's subsidiaries (noncontrolling interests, in the filing's words). The figures above are net income attributable to Walt Disney, the filer's own line.
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jun 27, 2026 | $25.2B | $2.6B | 10.4% |
| Mar 28, 2026 | $25.2B | $2.2B | 8.9% |
| Dec 27, 2025 | $26.0B | $2.4B | 9.2% |
| Sep 27, 2025 | $22.5B | $1.3B | 5.8% |
| Jun 28, 2025 | $23.6B | $5.3B | 22.2% |
| Mar 29, 2025 | $23.6B | $3.3B | 13.9% |
| Dec 28, 2024 | $24.7B | $2.6B | 10.3% |
| Sep 28, 2024 | $22.6B | $460M | 2.0% |
Held by tracked 13F managers
DISNEY WALT CO (COM): 19 of 69 tracked managers reported holding it — $2,101M across tracked reports, as filed.
13F reports arrive up to 45 days after quarter end and may be amended; totals sum across tracked reports, not unique economic ownership.
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