Walt Disney

DIS · Communication Services · Market cap $166B

Q2 FY26 Mar 28, 2026 reported May 6, 2026

Revenue$25.2B +7% year over year

Gross profit$9.3B

Operating profit$4.6B

Net profit$2.2B 9% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Mar 28, 2026).
Item	Value	Share of revenue	Year over year
Revenue	25.2	100%	+7%
Subscription and affiliate fees	10.6	42%
Theme park admissions	3.1	12%	+6%
Advertising	2.8	11%	+2%
Resorts and vacations	2.6	10%	+9%
Retail and wholesale sales of…	2.4	10%	+5%
Content Sales	1.7	7%
Other	1.1	4%	−5%
Merchandise licensing	0.9	4%	+2%
Cost of revenue	−15.9	63%
Gross profit	9.3	37% margin	+0pp
SG&A	−4.1	16%	−1pp
Other	−0.6	2%	+0pp
Operating profit	4.6	18% margin	+0pp
Tax	−0.9
Interest & other costs	−1.5
Net profit	2.2	9%	−5pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Dec 27, 2025).
Item	Value	Share of revenue	Year over year
Revenue	26	100%	+5%
Subscription and affiliate fees	9.8	38%
Theme park admissions	3.3	13%	+7%
Advertising	3.3	13%	+0%
Retail and wholesale sales of…	2.7	10%	+7%
Resorts and vacations	2.4	9%	+9%
Content Sales	2	8%
Other	1.3	5%	−2%
Merchandise licensing	1.1	4%	+4%
Cost of revenue	−16.7	64%
Gross profit	9.3	36% margin	−2pp
SG&A	−4.1	16%	+0pp
Other	−0.6	2%	+0pp
Operating profit	4.6	18% margin	−3pp
Tax	−1.2
Interest & other costs	−1
Net profit	2.4	9%	−1pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Jun 28, 2025).
Item	Value	Share of revenue	Year over year
Revenue	23.7	100%	+2%
Subscription fees	5.6	24%	+9%
Other	3.7	16%
Affiliate fees	3.7	16%	−7%
Theme park admissions	3	13%	+8%
Advertising	2.8	12%	−15%
Retail and wholesale sales of…	2.4	10%	+7%
Resorts and vacations	2.4	10%
Cost of revenue	−14.5	61%
Gross profit	9.1	39% margin	+2pp
SG&A	−4.1	18%	+1pp
Other	−0.4	2%	+0pp
Operating profit	4.6	19% margin	+1pp
Interest & other costs	−2
Net profit	5.3	22%	+11pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Mar 29, 2025).
Item	Value	Share of revenue	Year over year
Revenue	23.6	100%	+7%
Subscription fees	5.6	24%
Affiliate fees	4	17%
Other	3.6	15%
Theme park admissions	2.9	12%
Advertising	2.8	12%
Resorts and vacations	2.4	10%
Retail and wholesale sales of…	2.3	10%
Cost of revenue	−14.8	63%
Gross profit	8.8	37% margin	+1pp
SG&A	−4	17%	+0pp
Other	−0.4	2%	+0pp
Operating profit	4.4	19% margin	+1pp
Interest & other costs	−1.4
Net profit	3.3	14%	+14pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Mar 28, 2026	May 6, 2026	$25.2B	+7%	18%	$2.2B	9%
Q1 FY26	Sep 28 – Dec 27, 2025	Feb 2, 2026	$26B	+5%	18%	$2.4B	9%
Q3 FY25	Mar 30 – Jun 28, 2025	Aug 6, 2025	$23.7B	+2%	19%	$5.3B	22%
Q2 FY25	Dec 29, 2024 – Mar 29, 2025	May 7, 2025	$23.6B	+7%	19%	$3.3B	14%