Disney Reports First Quarterly Results Under Josh D'Amaro

Disney released its Q2 2026 financial results under new chief executive Josh D'Amaro. The company reported revenue growth of 7% in the quarter.

According to the earnings report, entertainment division revenue increased 10%. The streaming unit delivered operating income growth of 88%.

Josh D'Amaro sent a memo to staff about the results, reported by Business Insider. He tells employees: "The results we reported are not just numbers on a page – they are a direct reflection of your hard work, creativity and the way you deliver for our fans every single day."

The results followed job cuts announced in April that affected around 1,000 positions. The redundancies came one month after Josh took on the role.

Four priorities for 2026

Josh outlined four areas of focus in his memo to staff. The company plans to invest in storytelling, strengthen streaming operations, build ESPN's direct-to-consumer model and expand Disney Experiences.

The chief executive said Disney feels "incredibly excited" about its 2026 release schedule, with recent films including The Devil Wears Prada 2 and Pixar's Hoppers demonstrating the company's ability to create original intellectual property.

Product and technology improvements featured in the company's second quarter performance. Josh says Disney made "meaningful progress" with "product enhancements that improved the Disney+ user experience".

The streaming business will receive more investment in local content for UK and Korean markets. This could support growth targets for the division.

Sports and experiences performance

ESPN operating income fell 5% in the second quarter. The company has not started rights renewal negotiations with the NFL.

Despite this, Josh says ESPN's "brand strength" remained clear in Q2. The company updated its app to make the product more appealing for fans and help Disney achieve its goal of "fully capturing the power of live sports".

Disney's cruise line launched the Disney Adventure in Q2. The vessel is the first Disney ship home-ported in Asia.

Josh says this represents a milestone that extends "the reach of our brands to new markets and new fans around the world". The launch could reinforce confidence in the Disney Experiences portfolio.

Workforce restructuring 

The company's quarterly results follow the announcement of redundancies in April, which focused on the marketing department. Approximately 1,000 employees face job losses as a result of the cuts.

Josh sent an email to staff announcing the layoffs, seen by Reuters. He said: "Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow's needs."

He added: "As a result, we will be eliminating roles in some parts of the company."