Disney fiscal Q1 2026: revenue up 5% to $25.98B, adjusted EPS down 7% to $1.63

Disney reported fiscal Q1 2026, the quarter ended December 27, 2025, with revenue of $25.98B, up 5%, but total segment operating income fell 9% to $4.60B. Adjusted EPS was $1.63, down 7%, as Entertainment operating income dropped to $1.10B while Experiences grew 6% to $3.31B. Management guided to double-digit adjusted EPS growth and $7B of buybacks for fiscal 2026. Shares were reported down about 4% in premarket trading.

• Revenue $25.98B (+5%); total segment operating income $4.60B (-9%)
• Adjusted EPS $1.63 (-7%); GAAP diluted EPS $1.34 versus $1.40
• Entertainment operating income $1.10B (versus $1.70B); Sports $191M (versus $247M); Experiences $3.31B (+6%)
• SVOD operating income $450M at an 8.4% margin, up from $261M
• Free cash flow negative $2.28B in the quarter on $3.0B of park and property investment

SEC filing 8-K · accession 0001744489-26-000018 · sec.gov ↗