By Colin Kellaher
Disney posted fiscal second-quarter profit and revenue that surpassed Wall Street's expectations and tightened its full-year earnings guidance.
Disney on Wednesday reported an adjusted profit of $1.57 a share for the quarter ended March 28, up from $1.45 a share a year earlier and ahead of the $1.49 a share that analysts polled by FactSet, on average, were expecting.
Revenue rose 5% to $25.17 billion, topping the $24.87 billion that Wall Street had penciled it.
Disney said it now expects adjusted per-share earnings growth of about 12% for the fiscal year, excluding the impact of an extra week, which will chip in about 4% of full-year earnings. The Burbank, Calif., company had previously said it expected double-digit earnings growth for the year.
Disney also said it expects double-digit adjusted earnings growth to continue in fiscal 2027, excluding the impact of the extra week, and that it is now targeting at least $8 billion in stock buybacks in fiscal 2026, up from prior plans to buy back $7 billion worth of shares for the year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
05-06-26 0656ET
