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Disney rises after quarterly revenue beat, boosted by streaming and theme park growth

Disney reported its second-quarter results before markets opened on Wednesday.

Max Knoblauch

Entertainment juggernaut Disney reported its second-quarter earnings for the period that ended in March on Wednesday morning. The company’s shares climbed more than 5% in premarket trading.

For Q2, Disney — which bid farewell to Bob Iger and added new CEO Josh D’Amaro in the period — reported:

  • Adjusted earnings of $1.57 per share, compared to the $1.49 expected by Wall Street analysts polled by FactSet.

  • Total revenue of $25.2 billion, versus the $24.9 billion consensus estimate, driven by a 10% jump in its entertainment division.

  • $582 million in streaming operating profit, compared to Disney’s $500 million forecast for the quarter.

Looking ahead, Disney said it expects year-over-year attendance in its US parks to improve in Q3. (It declined 1% this quarter from Q1.) For the full year, Disney maintained its forecast of double-digit adjusted earnings growth compared to last year.

Less than two months into his tenure, D’Amaro has already faced a few hurdles. In March, OpenAI shuttered Sora (which Disney was invested in), there were mass layoffs at Epic Games on low “Fortnite” engagement (which Disney is invested in), and ABC pulled the season of major franchise “The Bachelorette” amid controversy.

More recently, the Trump administration has reignited its feud with ABC late-night host Jimmy Kimmel and the FCC launched an early review of Disney’s broadcast licenses. That review, which wasn’t set to be performed before October 2028, has been called “nearly unprecedented” by the National Association of Broadcasters.

This story is still developing.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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