DIS Shareholders and Stock Info ONLY

[OKW Lover]

If they spin it off, like Comcast did, are any approvals needed other than standard SEC reviews?

I would think that the FCC would be involved too

 

[Cfabar1]

Comcast didn't spin off NBC, they spun off the cable channels... or at least most of them...

 

[HokieRaven5]

Comcast didn't spin off NBC, they spun off the cable channels... or at least most of them...

Yeah, and Disney doesn’t really have the channels to spin off that haven’t already been incorporated into D+/Hulu. It’s really just A&E that doesn’t have a link.

 

[Cfabar1]

Yeah, and Disney doesn’t really have the channels to spin off that haven’t already been incorporated into D+/Hulu. It’s really just A&E that doesn’t have a link.

I think they're more inclined to shutter channels essentially through renegotiated carriage deals than sell them...

linear, I think they could sell to the right buyer... they're probably concerned about the television studios pipeline/vertical integration structure, but there is such little original programming on linear at this point, I don't think it really matters...

 

[BrianL]

Yeah, and Disney doesn’t really have the channels to spin off that haven’t already been incorporated into D+/Hulu. It’s really just A&E that doesn’t have a link.

Right - and honestly I don't see them spinning off FX as it has become the home for a lot of highly regarded, quality television. They have a very strong brand! I could see them winding down the hcannel and going streaming only at some point, but I doubt they would sell it.

 

[DizFanFamily]

So, sadly we still have cable tv. My husband love channel surfing too much... We got a notice from Xfinity yesterday that they have dropped ABC from our service package (Rocky Mountain region). Any ideas what is going on? We still have the rest of the Disney owned channels.

 

[BrianL]

So, sadly we still have cable tv. My husband love channel surfing too much... We got a notice from Xfinity yesterday that they have dropped ABC from our service package (Rocky Mountain region). Any ideas what is going on? We still have the rest of the Disney owned channels.

It could be a dispute with your local affilliate owner, not Disney.

 

[irlandaise]

So, sadly we still have cable tv. My husband love channel surfing too much... We got a notice from Xfinity yesterday that they have dropped ABC from our service package (Rocky Mountain region). Any ideas what is going on? We still have the rest of the Disney owned channels.

That would certainly be because Xfinity is in a contract dispute with whatever company owns your local ABC affiliate.

 

[HokieRaven5]

Our segments’ Q2 operating income results modestly exceeded our prior guidance. Stronger-than-expected revenue growth was the primary driver of the outperformance.

Revenues increased 7% for the second quarter to $25.2 billion from $23.6 billion in Q2 fiscal 2025.

Income before income taxes increased 9% to $3.4 billion from $3.1 billion in Q2 fiscal 2025. Total segment operating income(1) increased 4% to $4.6 billion from $4.4 billion in Q2 fiscal 2025. Diluted earnings per share (EPS) decreased to $1.27 from $1.81 in Q2 fiscal 2025. Adjusted EPS increased to $1.57 from $1.45 in Q2 fiscal 2025.

Fiscal 2026 outlook:

• We expect fiscal 2026 adjusted EPS growth of approximately 12%, excluding the impact of the 53rd week.

• We expect fiscal 2026 adjusted EPS growth of approximately 16%, including the impact of the 53rd week.

• We are targeting at least $8 billion in share repurchases in fiscal 2026.

• We expect Q3 total segment operating income of approximately $5.3 billion.

• Current demand at our domestic parks and resorts is healthy. However, we are mindful of the macroeconomic uncertainty consumers are facing today.

Fiscal 2027 outlook:

• We continue to expect double-digit growth in adjusted EPS in fiscal 2027, excluding the impact of the 53rd week. Note that in Q4 fiscal 2027 we will lap the impact of the 53rd week in Q4 fiscal 2026.

https://s206.q4cdn.com/979796730/files/doc_financials/2026/q2/q2-fy26-earnings.pdf

 

[Cfabar1]

https://www.cnbc.com/2026/05/06/disney-dis-earnings-q2-2026.html

 

[HokieRaven5]

SVOD OI $582M for Q2, up 88% from Q2 FY25

Streaming returns at 10.6%, up from 6.4% in Q2 25

 

[wabbott]

https://www.latimes.com/entertainme...-theme-parks-visitors-consumer-economy-prices

Disney’s theme parks revenue holds steady, despite national economic concerns
By Samantha Masunaga - Staff Writer
May 6, 2026 - 3:41 AM PDT

 

[wabbott]

https://finance.yahoo.com/quote/DIS/

The Walt Disney Company (DIS)

100.48 -0.83 (-0.82%)
At close: May 5 at 4:00:26 PM EDT

105.18 +4.67 (+4.65%)
Pre-Market: 7:39:38 AM EDT

 

[clarker99]

I haven’t had a chance to go over everything for Q2 but Disney guiding $5.3b operating income in Q3 would be a record quarter by a good margin.

 

[clarker99]

SVOD OI $582M for Q2, up 88% from Q2 FY25

Streaming returns at 10.6%, up from 6.4% in Q2 25

This is a landmark moment. Double digit margins were promised by end of FY. 6 months early and margin could maybe push to 15% by end of FY.

 

[HokieRaven5]

This is a landmark moment. Double digit margins were promised by end of FY. 6 months early and margin could maybe push to 15% by end of FY.

Yeah the streaming margins are the only standout from this report. Everything else is status quo.

 

[clarker99]

Yeah the streaming margins are the only standout from this report. Everything else is status quo.

If we factor in the $5.3B they guided next quarter that will result in a record rolling 4 quarter Operating Income total of just under $18B. They are also spending record amounts on Capex.

So as Disney lulls everyone to sleep by slow playing DTC and building out experiences, they will be hitting profit numbers we have never seen before from the company.

 

[RivShore]

From today's earnings call -
This pretty much confirms that they like the idea of linear being part of their entertainment distribution even if it goes to zero and they don't think they are worth much separated from the whole. Bottom line, linear is not going anywhere.
--------------------------------
Benjamin Daniel Swinburne, C.F.A.
Executive Vice President of Investor Relations & Corporate Strategy

Great. Okay. We're going to now take 2 questions on the portfolio of assets at The Walt Disney Company. I think these are probably both for Hugh. So this is from Robert Fishman at MoffettNathanson. How do you view the importance of ESPN and linear networks through the lens of your priorities to create -- to drive creativity, quality and global scale as a company?


Hugh Johnston
Senior Executive VP & CFO


Yes. That's a great question, Robert, and obviously, one that we hear a lot. So I'm going to try to be as clear as I can in the answer on this. We do understand that there is a lot of focus on linear entertainment assets and ESPN. So I'll explain our view here. Let me start with linear entertainment cable networks and make 3 points. First, these networks are better thought of as brands with studios that produce content like The Bear or a Shogun, and we monetize that content across multiple distribution platforms. Separating those monetization platforms into discrete businesses is highly complex and in our view, unlikely to create incremental value for shareholders, especially given where linear networks are valued in today's marketplace. Second, we're managing a monetization transition of these brands, and we are actually far down that migration path.

We're generating more revenue at Disney Entertainment in streaming than in linear, more than double if we look at it in this most recent quarter. So the linear earnings base is becoming smaller and smaller every quarter within our P&L. Finally, yes, linear revenues are declining, but Disney Entertainment as a segment is growing nicely. Our guidance continues for double-digit segment OI growth this fiscal year, excluding the 53rd week. So with all the cord-cutting pressure we're all aware of, Disney Entertainment is actually one of the faster-growing media businesses out there, and we're actually very, very proud of that. Turning to sports in totality. We view ABC as strategically connected when we think about ESPN and sports in general. Sports is admittedly a separate discussion and that it is much earlier in its monetization transition, having just launched Unlimited last year.

However, when we look at the marketplace for streaming in our competitive set, Netflix, Prime Video, YouTube, Paramount+, all of them are increasing their position in live sports. Sports rights are expensive and can be dilutive without scale, but we have scale in our most important market, the U.S., and the biggest sports media brand in the world in ESPN. We view sports as a key part of our programming strategy and ESPN as an important contributor to our distribution portfolio. For sure, we have to continue to work through this economic transition for ESPN while also better leveraging it for our overall business. As we do this, we will continue to deliver healthy consolidated earnings growth for shareholders. More broadly, when it comes to capital allocation, we're always assessing and looking to maximize shareholder value of our portfolio. That is our responsibility to shareholders, and we will continue to do that in the future.

 

[RivShore]

That said, WS would still welcome a split apparently:

Disney's stock gaps up meaningfully if it separates from ESPN and ABC: LightShed's Rich Greenfield​

https://www.cnbc.com/video/2026/05/...-espn-and-abc-lightsheds-rich-greenfield.html

 

[irlandaise]

Disney's ABC files petition to end FCC equal time probe into The View, says it threatens to ‘chill’ free speech​

https://ew.com/disney-abc-petition-...e-view-says-it-threatens-free-speech-11970723