Group 1 - Disney reported earnings per share of $1.11 on revenue of $22.5 billion for its fiscal year, indicating a mixed performance as it transitions from a legacy media company to a streaming-focused model [1] - The stock of Disney experienced a decline in early trading following the earnings report, reflecting investor concerns about its ongoing transformation and competitive pressures [1] - Netflix has opened its first major in-person amusement attraction, Netflix House, in a Philadelphia suburb, signaling its expansion into new media experiences and potential competition with Disney [2] Group 2 - DraftKings has seen a rise in stock value as Disney struggles with its ESPN Bet initiative, highlighting the competitive dynamics in the sports betting and media landscape [4] - Disney has increased its streaming prices, which may impact subscriber growth and retention amid rising competition from platforms like Netflix [4] - The stock market is observing potential rebounds and shifts, with companies like Palantir and Caterpillar also in focus, indicating broader market trends that could affect Disney and its peers [4]

Disney reported roughly flat revenue and a decline in operating income during its fourth fiscal quarter https://t.co/lQbdyyW0RX ...

Financial Performance - Disney's adjusted earnings per share were A11, exceeding estimates by 6 cents [1] - Revenue reached $225 billion, slightly below expectations [1] - Sports revenue was nearly $4 billion, roughly in line with expectations [2] - Disney is doubling its buyback target to $7 billion [3] - The annual dividend is being raised to $150%, up from $1 [3] - Disney anticipates double-digit EPS growth for 2026 and 2027 [4] Subscriber Growth - Disney Plus paid subscribers increased by 38 million over the prior quarter, reaching 1316 million, surpassing the estimate of 1297 million [2] - Hulu paid subscribers were 641 million at the end of the quarter, also topping estimates [3] Other Key Developments - Disney is engaged in a significant dispute with Google, the owner of YouTube TV [4]

Financial Performance - Adjusted earnings per share were $1.11, exceeding estimates by $0.06 [1] - Revenue totaled $22.5 billion, slightly below expectations [1] - Entertainment revenue was $10.2 billion, and experiences generated $8.8 billion, both slightly below Wall Street consensus [2] Subscriber Growth - Disney Plus paid subscribers increased by 3.8 million to 131.6 million, surpassing the estimate of 129.7 million [2] - Hulu paid subscribers reached 64.1 million, also exceeding estimates [3] Corporate Actions - Disney is doubling its buyback target to $7 billion [3] - The annual dividend is being raised to $1.50 from $1.00, marking a significant increase [3] Future Outlook - The company is projecting double-digit EPS growth for 2026 and 2027 [4]

格隆汇11月13日｜迪士尼(DIS.US)盘前跳水，一度跌5.27%至110.5美元。消息面上，迪士尼第四季度营 收224.6亿美元，预估228.3亿美元；调整后每股收益1.11美元，预估1.07美元。公司预计2026年资本支出 90亿美元，预估78.8亿美元；预计2026年营业现金流190亿美元，市场预估168.6亿美元。(格隆汇) ...

Walt Disney reported sales that fell short of Wall Street estimates and said a slate of big-budget films, including a new Avatar picture, will weigh on results for the first quarter of its new fiscal year https://t.co/JWlLYpb2ht ...

Subscriber and Audience Metrics - As of September 27, 2025, Disney+ has approximately 132 million paid subscribers, while Hulu has around 64 million paid subscribers[32][34]. - The estimated number of unique subscribers for general entertainment channels is approximately 145 million, and for family channels, it is about 130 million[27][28]. - ESPN has 61 million subscribers for both ESPN and ESPN2, 42 million for ESPNU, 38 million for ESPNEWS, 42 million for SEC Network, and 41 million for ACC Network[60]. - The company’s eight television stations reach approximately 20% of the national audience, which is below the FCC's maximum limit of 39%[122]. Revenue Generation - The majority of revenue from the Direct-to-Consumer segment is derived from subscription fees and advertising[29]. - Disney's Linear Networks generate revenue primarily from affiliate fees and advertising, with a significant portion based on audience size and programming quality[17]. - Revenues from the Experiences segment fluctuate with seasonal variations, typically peaking during summer and holiday periods[165]. - DTC revenues are sensitive to subscriber numbers, viewership levels, and demand for content, which can vary based on sports seasons and production schedules[165]. - Total revenues for fiscal 2025 increased by 3%, or $3.1 billion, to $94.4 billion compared to $91.4 billion in fiscal 2024[204]. Content and Programming - The company expects to release approximately 20 films during fiscal year 2026[37]. - Disney's significant content library includes approximately 5,300 live-action film titles and 460 animated film titles[47]. - The company has various sports programming rights, including NFL, NBA, MLB, and exclusive distribution for all WWE Premium Live Events starting September 2025[59]. - The success of DTC streaming services is contingent on effective content curation and investment decisions, impacting subscription and advertising growth[156]. Investments and Expansion - The majority of the company's capital spend has been directed towards parks and experiences, focusing on theme park and resort expansion, new attractions, and cruise ships[69]. - Disneyland Paris has developed approximately two-thirds of its 5,200-acre site, including two theme parks and seven themed resort hotels[87]. - Walt Disney Studios Park is undergoing a multi-year expansion, with a new themed area based on Frozen planned to open in 2026[89]. - Disney Cruise Line will add two new ships, the Disney Destiny and the Disney Adventure, scheduled to begin sailing in late 2025 and early 2026, respectively[103]. Financial Performance - Net income attributable to Disney increased by over 100% to $12.4 billion, up from $5.0 billion in the prior year[209]. - Diluted earnings per share (EPS) attributable to Disney rose to $6.85, compared to $2.72 in the previous year, reflecting a significant increase[209]. - Service revenues for fiscal 2025 increased by 3%, or $2.7 billion, to $84.6 billion, driven by higher subscription revenue and growth in parks and experiences[210]. - Cost of services for fiscal 2025 rose by $0.2 billion to $52.7 billion, influenced by higher programming and production costs[212]. Employment and Labor - The Company employed approximately 231,000 people as of fiscal year end 2025, with 76% being full-time employees[116]. - Labor disputes, including significant work stoppages by the Writers Guild of America and SAG-AFTRA, have disrupted productions and reduced revenues in fiscal 2023[161]. - The company has approximately 231,000 employees, and rising labor costs due to collective bargaining agreements and wage laws are expected to continue impacting financial results[163]. Regulatory and Compliance Issues - The company is subject to various privacy and data protection laws, including the General Data Protection Regulation in the EU, which imposes significant compliance costs[126]. - The company must renew its FCC licenses every eight years to continue operating its television stations, with no assurance of future renewals[122]. - Regulatory changes, including sanctions and tariffs, may significantly impact the company's operations and profitability[177]. - The company is subject to various U.S. and international regulations that can increase operational costs and limit business strategies[174]. Risks and Challenges - The company faces risks from fluctuations in foreign currency exchange rates, which can adversely impact revenues and costs[135]. - The company’s direct-to-consumer (DTC) streaming services initially experienced significant losses, with no assurance of long-term profitability[138]. - Demand for out-of-home entertainment experiences, such as theater-going, has not returned to pre-COVID-19 levels, impacting revenue[139]. - Increased competition has raised costs and impacted revenues, particularly in advertising and subscription fees across DTC services and linear networks[149]. Cybersecurity and Data Protection - Cybersecurity threats pose risks to the company's operations, potentially leading to data breaches and increased costs for maintaining security measures[171]. - The company has implemented a layered defense model for cybersecurity, incorporating technologies such as intrusion detection, multi-factor authentication, and encryption[184]. - The Audit Committee oversees cybersecurity risks and receives annual reports from the Chief Information Security Officer regarding ongoing efforts to manage these threats[188]. - The company maintains a Cybersecurity Incident Response Plan (CIRP) to handle cybersecurity events, which includes guidelines for escalation to senior management[186]. Environmental and Sustainability Goals - The Company has set measurable environmental sustainability goals for 2030, focusing on emissions, water stewardship, and waste reduction[117]. - Environmental, social, and governance compliance has increased costs and requires ongoing investment, with no assurance of achieving intended outcomes[153]. Shareholder Actions - The company repurchased a total of 8,506,715 shares during the quarter ended September 27, 2025, at an average price of $117.04 per share[202]. - The company has a remaining authorization to repurchase 339 million shares under its share repurchase program[202].

FOR IMMEDIATE RELEASE Exhibit 99.1 November 13, 2025 THE WALT DISNEY COMPANY REPORTS FOURTH QUARTER AND FULL YEAR EARNINGS FOR FISCAL 2025 BURBANK, Calif. – The Walt Disney Company today reported earnings for its fourth quarter and full year ended September 27, 2025. Financial Results for the Quarter and Full Year: Key Points: Total segment operating income and diluted EPS excluding certain items (also referred to as adjusted EPS) are non-GAAP financial measures. The most comparable GAAP measures are income ...

Core Insights - Streaming and experiences profits have increased, leading Disney to announce plans to return more cash to investors [1] Group 1: Financial Performance - Profits from streaming services and experiences have shown significant growth [1] - The company is focusing on enhancing shareholder returns through increased cash distributions [1]

Core Insights - Disney's strong performance in streaming, particularly a significant increase in subscribers, helped mitigate challenges faced by its film studio and advertising sales in the fiscal fourth quarter [1] Streaming Performance - The total number of subscribers for Disney+ and Hulu reached 196 million, with a year-over-year increase of 12.4 million, exceeding Wall Street's expectations by over 2 million [2] - Operating income in the direct-to-consumer segment rose by $99 million to $352 million, with an 8% increase in revenue [2] Financial Results - Adjusted earnings per share decreased to $1.11 from $1.14 in the previous year but still surpassed analysts' expectations by six cents [3] - Total revenue remained flat year-over-year at $22.5 billion, falling short of forecasts [3] Advertising and Studio Performance - A $40 million shortfall in political ad spending compared to the previous year impacted results [4] - The film studio faced challenges due to tough comparisons with the same quarter last year, which featured successful releases like Inside Out 2 and Deadpool & Wolverine [4] - Content Sales/Licensing and Other revenue declined by $368 million [4] Theme Parks and Corporate Division - The Experiences division, which includes theme parks, saw a modest revenue increase of 6% to $8.77 billion [5] - A significant carriage dispute with YouTube TV led to a two-week blackout, although this issue was not reflected in the quarterly report as it occurred after the quarter ended [5]