Disney Q3 FY2026: revenue up 7%, adjusted EPS $2.06, guidance held
Disney's fiscal Q3 was a beat on the numbers management controls: adjusted EPS of $2.06 topped the $1.8763 consensus and segment operating income rose 21.0%. Revenue of $25.25 billion grew 7.0% on a strong Experiences quarter. The catch is that reported GAAP EPS fell to $1.51 because last year carried a one-time Hulu benefit, so the operating story and the headline number point in different directions.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS fell 48.3% to $1.51 from $2.92, but last year's figure was inflated by a one-time Hulu transaction benefit of $3.28 billion. Adjusted EPS, which strips out $900 million of restructuring and impairment charges (including an $812 million write-down on the A+E investment) and $334 million of acquisition amortization, rose 28.0% to $2.06 from $1.61. The $2.06 also beat the $1.8763 consensus estimate, which is the cleaner read on the quarter.
Revenue was $25.25 billion, up 7.0% from $23.65 billion a year earlier. Experiences did the heavy lifting, up 10.0% to $9.97 billion, while Entertainment rose 6.0% to $11.35 billion and Sports rose 4.0% to $4.50 billion. Intersegment eliminations widened to -$0.57 billion because of the Fubo and NFL transactions, which is why the segments add up to more than the total.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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