The Walt Disney Company (DIS) Q2 2026 Earnings Call Prepared Remarks Transcript

Benjamin Daniel Swinburne, C.F.A.
Executive Vice President of Investor Relations & Corporate Strategy

The Walt Disney Company’s performance this quarter reflects the power of disciplined execution in a dynamic and competitive environment. We demonstrated that creativity, strategic clarity and business transformation can work together to drive strong outcomes for consumers and sustained value for shareholders.

I’m Ben Swinburne, EVP of Investor Relations and Corporate Strategy at Disney. Today, I want to take a look at the drivers behind our performance, our strategy and the foundation we continue to build on for long-term value creation. Please note that this video may include forward-looking statements. See the company’s securities filings for related risks.

Let’s start with some high-level numbers. In the second quarter, we grew revenue by 7% to $25.2 billion and total segment operating income by 4% to $4.6 billion. Adjusted EPS increased by 8% to $1.57. We modestly exceeded previous guidance, driven primarily by stronger-than-expected revenue growth. Our creative and operational momentum drove strong quarterly results in Q2, and we continue to expect growth to accelerate in the second half of the fiscal year.

The foundation of our growth is a unified enterprise-wide strategy built on 3 pillars. First, our relentless investment in creative excellence. Our intellectual property is Disney’s engine: creating stories, franchises and characters that power engagement across platforms.

That’s why investments in hits like Zootopia 2, which has earned $1.9 billion at the global box office and has streamed over 1 billion hours, diverse global originals and new films from the existing worlds of Disney, Marvel, Pixar and Star Wars are so crucial as they extend from screens to parks