New York, Feb 4, 2026, 20:34 ET — Market closed.
Shares of The Walt Disney Company ended Wednesday up 2.7%, closing at $107.05 after a volatile week as investors digested the latest CEO succession plan. The stock fluctuated between $103.65 and $108.60 during the session. (Yahoo Finance)
Disney announced that Josh D’Amaro, 54, currently head of parks, will take over as CEO following the company’s annual meeting on March 18. Bob Iger will remain on the board and serve as a senior adviser until December 31, 2026. Dana Walden is set to become president and chief creative officer, reporting directly to D’Amaro. Iger praised D’Amaro’s “instinctive appreciation of the Disney brand.” (The Walt Disney Company)
The timing is key as Disney pushes further into theme parks and streaming, even as its traditional TV segment contracts. Investors have been pressing for clearer leadership roles and ownership over upcoming major decisions, rather than more vague succession clues.
The wider market dragged, with the S&P 500 down 0.51% and the Nasdaq dropping 1.51%, led by tech stocks slipping, though the Dow managed a gain. Disney bucked the trend, finishing stronger into the close. (Reuters)
Disney reported quarterly revenue of $25.98 billion, a 5% increase, with adjusted earnings at $1.63 per share. The company’s Experiences segment hit a record $10.0 billion in revenue and generated $3.3 billion in operating income. Its streaming division posted $450 million in SVOD operating income, and Disney expects about $500 million for the second quarter. Free cash flow came in negative at $2.28 billion after capital spending on parks and other assets. The company bought back roughly $2.03 billion in stock and warned of a $110 million hit related to the suspension of YouTube TV carriage. (SEC)
Those figures keep the short-term outlook tangled. Parks still generate the bulk of profits, streaming shows progress, but cash flow dips due to heavy investments — the kind investors cheer when demand stays strong, but dread when it falters.
D’Amaro hails from the unit now at the core of Disney’s profits. Reuters reported that the parks division accounted for over 70% of Disney’s operating profit in the December quarter. It oversees 12 theme parks and 57 resort hotels globally. The report also highlighted D’Amaro’s role in pushing a $60 billion expansion plan, as Comcast’s NBCUniversal ramps up competition with its $7 billion Universal Epic Universe project near Disney World. (Reuters)
The risk case remains intact. Reuters reported that Disney is grappling with weaker international attendance at its U.S. parks and faces a challenging run of Hollywood labor negotiations as key guild contracts expire in May and June, with AI tensions adding pressure. The outlet also highlighted concerns around Disney’s late-2025 OpenAI licensing deal tied to Sora. “Disney can ill afford another messy handover,” said PP Foresight analyst Paolo Pescatore. (Reuters)
Inside the company, Iger offered a farewell message during a staff meeting after the transition was announced, telling employees: “Closure is wonderful.” The handoff is scheduled for March 18. (Los Angeles Times)
With U.S. markets closed overnight, all eyes turn to the next session to see if Wednesday’s rebound holds up as investors and analysts weigh the updated org chart and Disney’s profit forecast. The bigger trigger looms on March 18, when the CEO transition goes live and shareholders expect more clarity on what will shift — and what stays the same.
