New York, Feb 3, 2026, 5:08 AM EST — Premarket
- Disney (DIS) shares fell 7.3%, slipping to $104.45 in premarket action
- Investors are balancing park attendance figures with rising streaming profits and updated guidance
- Attention shifts to the CEO succession timeline and the disclosures Disney is dropping
Disney (DIS) shares dropped 7.3% to $104.45 in premarket trading Tuesday, slipping $8.25 from their previous close.
The drop was sharp compared to rivals, suggesting a company-specific issue rather than a broad sector decline. Netflix, Comcast, and Warner Bros Discovery each slipped less than 1% in early trading.
This matters because Disney’s parks and streaming arms are carrying the load while the company tries to transform its shrinking legacy TV business. The market is quick to lash out at any hint of cooling demand in the parks, even if streaming shows signs of improvement.
Disney reported a 5% revenue increase to $26.0 billion for the quarter ending Dec. 27, though adjusted earnings dipped to $1.63 per share. Subscription streaming (SVOD) brought in $450 million in operating income—profit before interest and taxes—and the company expects roughly $500 million next quarter. It also reaffirmed its fiscal-2026 goals, aiming for $19 billion in cash from operations and $7 billion in share buybacks.
Disney flagged “headwinds” from international visitors at its U.S. theme parks, with CFO Hugh Johnston admitting the company has “less visibility” on that demand. Analyst Ben Barringer from Quilter Cheviot linked the slide “very much to the parks business.” Despite this, Disney beat analyst estimates tracked by LSEG. The company also stopped breaking out revenue and operating income for its TV channels and stopped reporting streaming subscriber counts. CEO Bob Iger admitted that “trying to preserve the status quo was a mistake.” Bank of America’s Jessica Reif Ehrlich noted that succession concerns have “been an overhang on the shares recently,” and parks chief Josh D’Amaro is considered the likely successor, according to Reuters. (Reuters)
In their prepared remarks, Iger and Johnston spotlighted ad-tech advancements, including an OpenAI-linked move to bring Sora-generated content to Disney+. They also mentioned sports efforts at ESPN and content collaborations across Hulu. Growth was noted at every theme park, with “World of Frozen” launching next month at Disneyland Paris. The Disney Adventure ship is scheduled to set sail from Singapore on March 10, according to Disney Cruise Line. ESPN sealed an NFL deal on Jan. 31 and flagged a new agreement with MLB, the commentary added. (The Walt Disney Company)
With less focus on subscriber and channel breakouts, investors are zeroing in on profit and cash flow. That shifts the spotlight onto the parks outlook and whether streaming can continue to grow, even as film marketing and sports rights costs remain high.
There’s a clear risk here. Should international travel remain sluggish or U.S. consumers tighten their belts, the parks segment could quickly lose steam, potentially overshadowing any gains made in streaming.
Traders will be watching Disney’s open closely after the premarket dip, waiting to see if analysts begin revising forecasts for the experiences unit. The stock has reacted sharply to any signs of weaker attendance or discounting.
Disney’s annual shareholder meeting is set for March 18, marking the next key date on the calendar. Investors expect more clarity on the CEO succession by that time. (Thewaltdisneycompany)
