DIS Q3 2025 Earnings
Reported Aug 6, 2025 at 6:42 AM ET · SEC Source
Q3 25 EPS
$1.61
BEAT +11.48%
Est. $1.44
Q3 25 Revenue
$23.65B
MISS 0.43%
Est. $23.75B
vs S&P Since Q3 25
-23.6%
TRAILING MARKET
DIS -9.7% vs S&P +13.9%
Market Reaction
Did DIS Beat Earnings? Q3 2025 Results
Walt Disney delivered a beat-and-miss quarter for fiscal Q3 2025, posting adjusted EPS of $1.61 against the $1.44 consensus estimate, an 11.48% beat, while revenue of $23.65 billion came in just 0.43% shy of the $23.75 billion Wall Street expected, s… Read more Walt Disney delivered a beat-and-miss quarter for fiscal Q3 2025, posting adjusted EPS of $1.61 against the $1.44 consensus estimate, an 11.48% beat, while revenue of $23.65 billion came in just 0.43% shy of the $23.75 billion Wall Street expected, still representing 2.1% growth year-over-year. The headline earnings strength was anchored by the Experiences segment, where domestic parks operating income surged 22% fueled by higher guest spending and the Disney Treasure cruise ship launch, helping lift total segment operating income 8% to $4.58 billion. Meanwhile, the Direct-to-Consumer business swung to $346 million in operating income from a $19 million loss a year ago, with Disney+ and Hulu combined reaching 183 million subscriptions, a figure that could climb by more than 10 million in Q4 as an expanded Charter distribution deal rolls out. Disney raised its full-year adjusted EPS guidance to $5.85, implying 18% growth, and with an ESPN direct-to-consumer launch and a new WWE rights agreement adding to its content slate, the company is leaning into streaming as its next growth chapter.
Key Takeaways
- • Direct-to-Consumer swung to $346 million operating income from a $19 million loss, driven by higher subscription pricing and subscriber growth
- • Domestic Parks & Experiences operating income grew 22% to $1.7 billion driven by higher guest spending and increased cruise passenger days
- • Disney Treasure cruise ship launch contributed to higher cruise passenger days
- • Sports segment operating income increased 29% largely due to absence of $314 million Star India loss from prior year
- • Hulu's $3.3 billion non-cash tax benefit upon change in U.S. income tax classification boosted GAAP earnings
- • Higher effective subscription rates reflecting price increases across streaming services
- • 183 million combined Disney+ and Hulu subscriptions, up 2.6 million sequentially
DIS YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
DIS Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased with our creative success and financial performance in Q3 as we continue to execute across our strategic priorities. The company is taking major steps forward in streaming with the upcoming launch of ESPN's direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest-caliber brands and franchises, general entertainment, family programming, news, and industry-leading sports content. And we have more expansions underway around the world in our parks and experiences than at any other time in our history. With ambitious plans ahead for all our businesses, we're not done building, and we are excited for Disney's future.”
— Robert A. Iger, Q3 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% |