🐭 Streaming Turns Profitable for Disney
The Walt Disney Company has published its results for Q4 and the full 2025 fiscal year. Annual revenue grew by 3% to $94.4 billion.
The Parks & Experiences segment set an all-time annual operating income record: $10 billion (an increase of $723 million). Quarterly operating income reached $1.9 billion (+$219 million), driven by strong growth in both international (+25%) and domestic (+9%) parks.
The Direct-to-Consumer segment posted solid quarterly operating profit for the first time — $352 million (up $99 million).
Total subscriptions across Disney+ and Hulu reached 196 million, with Disney+ subscribers rising to 132 million.
Overall quarterly operating income declined by 5% due to tough comparisons with last year’s record-breaking box office performance.
Operating profit from cable networks decreased, despite ESPN’s advertising revenue rising by 8%.
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