Gildas Omont
$DIS (Walt Disney) : Streaming and Parks Drive Growth Amid TV and Cinema Decline Disney reported stable revenue ($22.5 billion) but a 5% drop in operating income last quarter, mainly due to the decline of linear TV and disappointing box office results (The Fantastic Four, Tron: Ares). However, streaming (Disney+, Hulu) and parks (especially Disneyland Paris and cruises) are thriving: streaming operating income rose by 39%, while parks accounted for over half of the company’s profits. To reassure investors, Disney announced a doubling of share buybacks ($7 billion) and a 50% dividend increase. The company maintains its double-digit earnings per share growth targets for 2026–2027 and expects streaming profitability to reach 10% this year. Key points to watch: Bob Iger’s succession in 2026 and the performance of upcoming blockbusters (Zootopia 2, Avatar: Fire and Ash). $NFLX (Netflix, Inc.) $SPX500 $CMCSA (Comcast Corp) $WBD (Warner Bros Discovery Inc)
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