Disney reported a strong third quarter on Wednesday, with its Experiences division posting operating income of $3.02 billion as U.S. parks kept pulling the business higher. The company’s dis stock story for the quarter was simple enough: domestic strength outweighed the drag from weaker international tourism.
That strength showed up in the numbers Disney investors watch closest. For the three months ended June 27, the Burbank, California-based company earned $2.64 billion, or $1.51 per share, compared with $5.26 billion, or $2.92 per share, a year earlier. Adjusted earnings came in at $2.06 per share, ahead of the $1.86 per share analysts polled by FactSet had expected, even as revenue rose 7% to $25.25 billion and still fell short of Wall Street’s $25.39 billion forecast.
Inside the Experiences division, revenue reached $9.97 billion. Operating income rose 27% at domestic parks, a pace that helped cushion the broader business as Disney said continued weakness from international tourism offset some of the gains. Operating income fell 13% for international parks and Experiences, a reminder that the recovery has been uneven even in a quarter that was solid overall.
Disney had already warned earlier this year that its theme parks division would likely see modest growth because tourism from abroad was softening. Wednesday’s results showed that warning was not a false alarm, but it also showed how much the U.S. parks can still carry the division when attendance and spending hold up at home. The company also announced a global short-form content sharing deal with TikTok on Wednesday, bringing Disney-focused fan-created content from TikTok to the Disney+ app, though that move sat apart from the earnings report itself.
Lin-Manuel Miranda arrived at a special screening of Disney’s “Moana” at the United Palace on Thursday, July 9, 2026, in New York, a reminder that Disney’s reach still stretches well beyond quarterly earnings. For now, though, the sharper question is how long domestic parks can keep offsetting the pressure from weaker international tourism. Disney said it is anticipated to have a very strong showing at the box office through the end of the year, but the next leg of the story will depend on whether that strength shows up across more than one part of the business.
