New York, Feb 2, 2026, 13:49 EST — Regular session
Disney shares slipped roughly 7% to $105.02 on Monday, erasing an initial gain following the media giant’s quarterly report, which spotlighted its theme parks and travel forecasts.
The Walt Disney Company posted fiscal first-quarter revenue of $25.98 billion and adjusted earnings of $1.63 per share, a figure that excludes certain items. It noted “international visitation headwinds” at its domestic parks in the second-quarter outlook. Despite this, Disney still anticipates double-digit adjusted EPS growth for fiscal 2026 and expects $19 billion in cash from operations. The company’s $7 billion buyback plan remains on track. (Walt Disney Company Investor Relations)
The caution is key since parks and related operations remain Disney’s main revenue drivers. The company reported a record $10.0 billion in quarterly revenue for its Experiences segment, with domestic park attendance climbing 1% and per-capita spending rising 4%. Yet, Disney flagged that second-quarter profit growth in this area would be modest, partly due to softer international attendance at U.S. parks, and noted it has shifted marketing focus toward domestic visitors. (AP News)
Analysts saw the selloff less as a direct judgment on the quarter and more as a signal about the parks segment. Ben Barringer, head of tech research at Quilter Cheviot, said the share price drop “is very much to do with the parks business.” Meanwhile, Bank of America’s Jessica Reif Ehrlich pointed to CEO succession as “an overhang” weighing on the stock. (Reuters)
The succession debate intensified overnight. Bloomberg News reported that Disney’s board is nearing a decision to appoint Experiences chief Josh D’Amaro as the next CEO, with a vote possibly happening next week. However, a Disney spokesperson told Bloomberg in an email that the board “has not yet selected the next CEO.” (Reuters)
The stock’s move stood out amid a stronger market. The S&P 500-tracking SPDR ETF climbed roughly 0.6%, and the Nasdaq-100-tracking Invesco QQQ gained nearly 1%. Media names were uneven — Netflix dipped, Comcast slipped a bit, while Warner Bros Discovery saw a modest rise.
There’s another ESPN development on investors’ radar. Regulators gave the green light to ESPN’s acquisition of NFL Network and additional league media properties, Reuters reported. In return, the NFL will take an equity stake in ESPN. These assets are set to be folded into ESPN’s forthcoming direct-to-consumer streaming platform. (Reuters)
Still, the risk centers on Disney’s most reliable segment: parks. Should international travel to the U.S. remain weak, promotions might need to ramp up to maintain attendance, putting pressure on margins even if overall visitor numbers stay steady. Rising sports rights fees and costly film marketing campaigns could inject extra volatility precisely when investors are seeking steadier cash flow.
Next on the agenda: the timeline for succession and how fast management can restore faith in park demand heading into spring. Disney’s annual shareholder meeting is set for March 18. (Virtualshareholdermeeting)
