DISNEY WKN: 855686 ISIN: US2546871060 Kürzel: WDP Forum: Aktien Thema: Hauptdiskussion

At an important moment of change for Disney, we remain focused on executing our long-term growth strategy. Our creative and operational momentum drove strong quarterly results, and we continue to expect growth to accelerate in the second half of the fiscal year. We are strengthening streaming through continued investment in the creative storytelling that defines us and in product and technology innovation, while advancing ESPN’s direct-to-consumer future, and delivering on our bold growth plans at Disney Experiences. Our segments’ Q2 operating income results modestly exceeded our prior guidance. Stronger-than- expected revenue growth was the primary driver of the outperformance. Revenues increased 7% for the second quarter to $25.2 billion from $23.6 billion in Q2 fiscal 2025. Income before income taxes increased 9% to $3.4 billion from $3.1 billion in Q2 fiscal 2025. Total segment operating income (1) increased 4% to $4.6 billion from $4.4 billion in Q2 fiscal 2025. Diluted earnings per share (EPS) decreased to $1.27 from $1.81 in Q2 fiscal 2025. Adjusted EPS increased to $1.57 from $1.45 in Q2 fiscal 2025. Fiscal 2026 outlook: • We expect fiscal 2026 adjusted EPS growth of approximately 12%, excluding the impact of the 53rd week. • We expect fiscal 2026 adjusted EPS growth of approximately 16%, including the impact of the 53rd week. • We are targeting at least $8 billion in share repurchases in fiscal 2026. • We expect Q3 total segment operating income of approximately $5.3 billion. • Current demand at our domestic parks and resorts is healthy. However, we are mindful of the macroeconomic uncertainty consumers are facing today. Fiscal 2027 outlook: • We continue to expect double-digit growth in adjusted EPS in fiscal 2027, excluding the impact of the 53rd week. Note that in Q4 fiscal 2027 we will lap the impact of the 53rd week in Q4 fiscal 2026.