Our strong fiscal third-quarter results and reiterated full-year outlook reinforce our confidence that we are uniquely well positioned. Decades of investment in intellectual property have built deep fan connections that translate into strong financial results.
Accelerating global guest growth at Experiences, the theatrical and consumer-products success of Toy Story 5, and strong ESPN viewership gains all helped expand our consumer reach this quarter. Together, our results demonstrate our unique ability to engage consumers at scale, both digitally and physically, even amid macroeconomic uncertainty.
Fiscal Third-Quarter Results
- Revenue increased 7% to $25.2 billion, compared with $23.7 billion in the third quarter of fiscal 2025.
- Income before income taxes increased 14% to $3.6 billion, compared with $3.2 billion in the prior-year quarter.
- Total segment operating income modestly exceeded our prior guidance, increasing 21% to $5.6 billion from $4.6 billion.
- Diluted earnings per share decreased to $1.51 from $2.92.
- Adjusted earnings per share increased to $2.06 from $1.61.
Fiscal 2026 Outlook
- We continue to expect adjusted EPS growth of approximately 12%, excluding the impact of the 53rd week.
- We continue to expect adjusted EPS growth of approximately 16%, including the impact of the 53rd week.
- We expect fourth-quarter total segment operating income of approximately $4.9 billion, including the impact of the 53rd week.
- We are now targeting at least $9 billion in share repurchases during fiscal 2026.
Fiscal 2027 Outlook
We continue to expect double-digit adjusted EPS growth in fiscal 2027, excluding the impact of the 53rd week. In the fourth quarter of fiscal 2027, we will begin comparing against the additional 53rd week included in the fourth quarter of fiscal 2026.