Disney Experiences delivered record Q2 revenue and operating income as Josh D’Amaro set out priorities around IP, technology and connected guest engagement.
Disney Q2 FY26 earnings put the company’s Experiences business in clear focus, as Josh D’Amaro addressed investors for the first time as chief executive officer. The Walt Disney Company reported second-quarter revenue of $25.2 billion, up 7% year on year, with adjusted EPS of $1.57.
The news matters now because Disney Experiences remains central to the group’s growth plan. The division reported Q2 revenue of $9.49 billion, up 7%, and operating income growth of 5%. Disney described both figures as fiscal second-quarter records.
D’Amaro used the earnings call to set out three priorities. He cited creative excellence, a more connected Disney experience across streaming, sports, games and Experiences, and stronger use of technology across the business.
For parks and attractions executives, the most relevant signal came from Disney Experiences. D’Amaro said the segment continues to ‘demonstrate strength in the core business and make progress against our growth initiatives.’
He pointed to two recent milestones. Disney Cruise Line has launched Disney Adventure, its first ship home-ported in Asia. Disneyland Paris has also opened World of Frozen as part of Disney Adventure World.
D’Amaro said: ‘The strong demand that we’re seeing for these attractions reinforces our confidence in the long-term opportunity across our portfolio of experiential assets — parks, cruise line, and immersive experiences alike.’
Disney also gave more detail on the cost base behind the quarter. Pre-opening expenses linked to Disney Adventure and World of Frozen reduced Experiences operating income growth by about two percentage points. Domestic parks per-capita spending rose 5%, driven by admissions, food and beverage, and merchandise.
The company’s broader direction is clear from D’Amaro’s comments on digital connection. He said Disney aims to build ‘a more connected consumer experience, with Disney+ right at the center.’
Disney is positioning physical assets as part of a wider consumer relationship. Parks, cruises and immersive experiences sit alongside streaming, games and sports, rather than apart from them.
The Disney Q2 FY26 earnings release also referenced expansion work outside the US. Disney said it is working with local operators on a new cruise ship in Japan and a theme park resort in Abu Dhabi.
Technology will remain part of that plan. Disney said it sees long-term opportunities for AI in content creation, monetisation, workforce productivity, guest and consumer experiences, and enterprise operations. It also said human creativity and IP value would remain central.
D’Amaro closed his investor commentary by saying: ‘Our job is to execute with rigor, to invest with confidence, and connect those strengths in ways that create lasting value for consumers and shareholders alike.’
Image: Disney
