Here's what to expect when Disney reports earnings before the bell
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- Disney reports fiscal Q3 earnings before the bell Wednesday, with LSEG analysts expecting $1.86 EPS and $25.40 billion in revenue.
- Josh D'Amaro, who took over as CEO from Bob Iger less than five months ago, last quarter outlined growth plans centered on investing in intellectual property and advancing storytelling technology for theme parks and streaming.
- The company has carried out layoffs across divisions, with the most recent round reportedly occurring in July including at ESPN.
- Comcast's NBCUniversal reported lower Orlando parks attendance last quarter, citing "weakness in consumer sentiment and higher travel costs" tied to the U.S.-Israel conflict with Iran and rising oil prices — a potential read-through for Disney's parks.
- Last quarter Disney said domestic park demand remained healthy and guest spending increased, even as broader consumer uncertainty persisted.
- Investors will seek updates on subscriber and advertising growth for Disney+ and ESPN's direct-to-consumer app, which launched nearly a year ago.
Why it matters: Theme parks and streaming are the two pillars of D'Amaro's growth thesis, and both face macro pressure: NBCUniversal's parks already absorbed a travel-cost-driven attendance hit, while ESPN's DTC app approaches its one-year mark with layoffs still fresh. Subscriber and ad metrics for Disney+ and ESPN's platform will be the clearest signal of whether the IP-investment strategy is translating into revenue before additional cost cuts land.
