Filing Flows › Walt Disney (DIS) › Q3 FY26
Walt Disney (DIS) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Aug 5, 2026
Walt Disney (DIS) reported revenue of $25.2B for the third quarter fiscal 2026 (Q3 FY26), +7% from a year earlier and +0.3% from the quarter before. Operating margin was 22.0%, net earnings $2.6B (10.4% of revenue).
Walt Disney, Q3 FY26: revenue $25.2B (+7% year over year), operating margin 22.0%, net earnings $2.6B, operating cash flow $4.9B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.2B | +0.3% | +7% |
| Operating profit | $5.6B | +21% | +21% |
| Net earnings | $2.6B | +17% | -50% |
| Operating cash flow | $4.9B | -30% | +33% |
| Free cash flow | $3.1B | — | +63% |
What changed
Revenue was $25.2B in Q3 FY26, up 7% year over year and roughly flat from the previous quarter. Subscription and affiliate fees was the largest line at 41% of revenue. Subscription and affiliate fees added $0.91B year over year (up 10%), 57% of the total change. Content Sales declined 10%.
Operating profit was $5.6B, a 22.0% margin (up 2.7 points year over year). Of the extra revenue versus Q3 FY25, 61% reached operating profit, above the 19% margin then. Total costs grew 3% against revenue growth of 7%. Net earnings were $2.6B, down 50% year over year. The effective tax rate was 22.0%.
Operating cash flow was $4.9B (up 33% year over year), 171% of net income including minority interests. Non-cash charges added back $1.4B of depreciation and amortization and $0.42B of share-based compensation. After investments in parks, resorts and other property ($1.8B), free cash flow as the company reports it was $3.1B.
Questions
What was Walt Disney's revenue in the third quarter fiscal 2026?
Walt Disney (DIS) reported revenue of $25.2B for the third quarter fiscal 2026 (Q3 FY26), +7% from a year earlier and +0.3% from the quarter before.
Was Walt Disney profitable in the third quarter fiscal 2026?
Operating profit was $5.6B (22.0% of revenue) and net earnings $2.6B.
Source: Walt Disney 10-Q on SEC EDGAR.