DIS Q2 2025 Earnings
Reported May 7, 2025 at 6:52 AM ET · SEC Source
Q2 25 EPS
$1.45
BEAT +19.80%
Est. $1.21
Q2 25 Revenue
$23.62B
BEAT +2.14%
Est. $23.13B
vs S&P Since Q2 25
-25.8%
TRAILING MARKET
DIS +2.6% vs S&P +28.4%
Market Reaction
Did DIS Beat Earnings? Q2 2025 Results
Walt Disney delivered a notably strong fiscal second quarter, posting adjusted EPS of $1.45 against a consensus estimate of $1.21, a beat of nearly 19.80%, while revenue climbed 7.0% year over year to $23.62 billion, ahead of the $23.13 billion Wall … Read more Walt Disney delivered a notably strong fiscal second quarter, posting adjusted EPS of $1.45 against a consensus estimate of $1.21, a beat of nearly 19.80%, while revenue climbed 7.0% year over year to $23.62 billion, ahead of the $23.13 billion Wall Street had anticipated. The standout driver was a resurgent Entertainment segment, where Direct-to-Consumer swung decisively into profitability, operating income jumping to $336 million from just $47 million a year ago, as higher subscription pricing and advertising gains pushed Disney+ to 126 million subscribers and combined Disney+ and Hulu totals to 180.7 million. Experiences held its own with 9% operating income growth, supported by strong domestic park attendance and the launch of the Disney Treasure cruise ship, momentum that dovetails with the company's newly announced Abu Dhabi theme park plans. With confidence building across segments, Disney raised its full-year fiscal 2025 adjusted EPS guidance to $5.75, implying 16% growth, even as management acknowledged it continues to monitor macroeconomic uncertainty heading into the back half of the fiscal year.
Key Takeaways
- • Adjusted EPS grew 20% YoY driven by Entertainment and Experiences segments
- • Direct-to-Consumer operating income increased $289 million to $336 million, driven by higher subscription pricing and advertising growth
- • Disney+ subscribers grew 1.4 million sequentially to 126.0 million; combined Disney+ and Hulu reached 180.7 million subscriptions
- • Domestic Parks & Experiences operating income grew 13% on higher attendance, guest spending, and Disney Treasure cruise ship launch
- • Content Sales/Licensing benefited from Moana 2 home entertainment performance and higher TV/VOD episodic content sales
- • Domestic ESPN advertising revenue grew 29%, partly from expanded College Football Playoff format
- • Consumer Products operating income grew 14%, aided by Marvel Rivals licensed game revenue
- • Non-cash tax benefit of $1,016 million from resolution of a prior-year tax matter boosted GAAP results
- • Lower tax payments due to California wildfire-related deferrals increased operating cash flow by $4.1 billion YoY (six months)
DIS YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
DIS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our outstanding performance this quarter—with adjusted EPS up 20% from the prior year driven by our Entertainment and Experiences businesses—underscores our continued success building for growth and executing across our strategic priorities.”
— Robert A. Iger, Q2 2025 Earnings Press Release
DIS Earnings Trends
DIS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DIS EPS Trend
Earnings per share: estimate vs actual
DIS Revenue Trend
Quarterly revenue: estimate vs actual
DIS Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.58 | $1.63 | +3.44% | $25.98B | +1.49% |
| Q4 25 FY | — | $1.11 | — | $22.46B | — |
| FY Full Year | — | $5.93 | — | $94.43B | — |
| Q3 25 BEAT | $1.44 | $1.61 | +11.48% | $23.65B | -0.43% |
| Q2 25 BEAT | $1.21 | $1.45 | +19.80% | $23.62B | +2.14% |