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Disney to Announce Fiscal Q3 Results Before the Bell: Streaming, Parks, and ESPN in the Spotlight

The Walt Disney Company (DIS) is scheduled to release its fiscal third-quarter earnings before the U.S. stock market opens on Wednesday, and all eyes are on how its streaming and entertainment segments are holding up amid changing market dynamics.

Following a year of strategic pivots, leadership changes, and continued global expansion, investors are watching closely for any new developments across Disney’s content, streaming, and theme park divisions.

Here’s what Wall Street expects, according to analysts surveyed by LSEG (London Stock Exchange Group):

• Earnings per share (EPS): $1.47 (expected)
• Revenue: $23.73 billion (expected)

Disney executives will host their earnings call at 8:30 a.m. ET to provide further commentary and insights.

Streaming in Focus: All Eyes on ESPN’s Standalone Launch

Once again, streaming will dominate the discussion, especially with new details expected around ESPN’s direct-to-consumer service, which is slated to launch this fall.

The upcoming ESPN streaming app—priced at $29.99/month—will include live sports, exclusive programming, and all content from the linear TV network, making it one of Disney’s most aggressive streaming plays to date. The exact launch date remains undisclosed, but investors are expecting clarity during the earnings call.

The move follows a broader trend as consumers continue to abandon traditional pay-TV bundles. In response, competitors are accelerating their own streaming rollouts. Just this week, Fox Corporation announced its own app, Fox One, priced at $19.99/month, set to launch on August 21.

Streaming profitability remains a key theme: In the previous earnings report, Disney highlighted that its streaming business had reached profitability, a milestone that’s now seen as more important than sheer subscriber growth.

Disney+ Growth and Subscriber Outlook

In May, Disney reported 126 million global subscribers on its flagship streaming service, Disney+, surpassing analyst expectations. While growth has moderated in recent quarters, investors will be watching for updated subscriber numbers and churn rates, especially amid price hikes and changes to content licensing.

The company also revised its fiscal 2025 guidance upward in May, suggesting cautious optimism about the future of its direct-to-consumer businesses.

Theme Parks and International Expansion: Steady Performance with Some Pressure Abroad

Disney's experiences segment, which includes theme parks, cruises, resorts, and consumer products, continues to serve as a reliable revenue generator. In the last quarter:

• Overall experiences revenue grew 6% year-over-year
• Domestic theme park revenue jumped 9%
• International park revenue fell 5%, due in part to economic softness and geopolitical uncertainties abroad

A major highlight was Disney’s announcement of a new theme park and resort in Abu Dhabi—its seventh global resort location—as it continues to expand its international footprint and diversify revenue sources.

Analyst and Investor Expectations

Wall Street analysts remain cautiously optimistic about Disney’s long-term growth strategy, particularly if the company continues to deliver on profitability in streaming, expand its parks business, and improve operating margins across segments.

Disney's financial performance comes at a pivotal moment, as the company navigates leadership transitions, industry disruptions, and increasing competition from both traditional media players and tech giants like Netflix, Amazon, and Apple.

Bottom Line

As Disney reports before the bell, investors will be focused on more than just top-line numbers. They'll be looking for strategic updates, revenue growth in experiences, and clarity on ESPN’s launch—all of which could have a significant impact on the company’s trajectory going into the final quarter of 2025.

With a complex mix of legacy media operations, ambitious digital shifts, and high-stakes global projects, Disney's Q3 earnings are shaping up to be a critical pulse check on the future of one of the world’s most iconic entertainment companies.