Walt Disney Company (the) · NYSE:DIS
Walt Disney Company (the) — The Walt Disney Company — Q3 2025 Earnings Presentation
11 slides from Walt Disney Company (the)'s earnings presentation, Aug 6, 2025
Slide 1: Q3 FY25 Earnings Prepared Management Commentary
ur Dorey Company - Q3 FY25 Earnings — Prepared Management Commentary August 6, 2025 Please view these remarks in conjunction with our Q3 FY 2025 earnings release and Form 10-Q that can be found on our website at https://thewaltdisneycompany.com/investor-relations/ We also invite you to listen to tod
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain statements in these remarks may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our expectations, beliefs, plans, financial prospects, trends or outlook, and guidance
Slide 3: Q3 FY25 Earnings Commentary
Q3 FY25 EARNINGS COMMENTARY We are pleased with our continued creative success and financial performance in the quarter, with adjusted EPS! up 16% from the prior year. At a time of great change for our industry when a number of companies are contracting, we are operating from a position of strength
Slide 4: Bringing Audiences Lucasfilm's Star Wars: The Mandalorian and Grogu
bringing audiences Lucasfilm’s Star Wars: The Mandalorian and Grogu, Pixar’s Toy Story 5, a live-action Moana, and Marvel’s Avengers: Doomsday, among other exciting new originals and sequels. Our branded and general entertainment content demonstrated strong performance across streaming and linear. D
Slide 5: We Are Committed to Offering Sports Fans Tremendous Choice
We are committed to offering sports fans tremendous choice, convenience, and quality. Fans with subscriptions to a Disney+, Hulu, and ESPN bundle will be able to watch ESPN content within Disney+,* while ESPN will continue to be available through traditional MVPDs and DMVPDs, and all ESPN App users
Slide 6: The Great Content We Offer to Consumers Is a Result
The great content we offer to consumers is a result of the strategic investments we have made across a number of marquee and growing sports. In Q3, the NBA Finals Game 7 (Indiana Pacers vs. Oklahoma City Thunder) was the most-watched NBA game in six years, with 16.6 million average viewers. ESPN als
Slide 7: Entertainment
ENTERTAINMENT At Entertainment, segment operating income declined $179 million compared to the prior-year quarter due to lower results at Content Sales/Licensing and Other and Linear Networks, partially offset by growth at Direct-to-Consumer. Q3 Direct-to-Consumer revenue was up 6%, which reflects a
Slide 8: Sports and Experiences
7% versus the prior-year quarter primarily due to higher programming and production costs reflecting contractual rate increases for the NBA and college sports. Advertising revenue at Domestic ESPN was up 3% in Q3 versus the prior-year quarter driven by rate increases. Results reflect a one percentag
Slide 9: As We Look Forward, Our Focus Remains
As we look forward, our focus remains on investing to build on top of the strong foundation we have established, further integrating our businesses, and operating more efficiently to drive strong financial results. We take an integrated approach to operating our Entertainment segment businesses, lev
Slide 10: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES This executive commentary presents diluted EPS excluding certain items (also referred to as adjusted EPS) and total segment operating income. Diluted EPS excluding certain items and total segment operating income are important financial measures for the Company but are no
Slide 11: Reconciliation of Reported Diluted EPS
The following table reconciles reported diluted EPS to diluted EPS excluding certain items for the third quarter: (in millions except EPS) Gees eas pai sia ‘a Diluted EPS cna Quarter Ended June 28, 2025 As reported $3,211 $2,732 $5,943 $2.92 >100% Exclude: Hulu Transaction Impacts“) _ (3,277) (3,277
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