Walt Disney shares have fallen about 15% in 2026 to roughly $96, even as its streaming operating income nearly doubled year over year in the fiscal second quarter. The company reported streaming operating income of $582 million, up from $310 million a year earlier, with a margin of about 11%. Total revenue rose 7% to $25.2 billion, and adjusted earnings per share grew 8% to $1.57. Management expects fiscal 2026 adjusted earnings per share to grow about 12% and is targeting at least $8 billion in share repurchases. The stock trades at about 13 times forward earnings, roughly two-thirds of Netflix's multiple, despite Disney's streaming acceleration contrasting with Netflix's slowing growth.
Walt Disney CompanyStock down 15% despite strong earnings and streaming profit growth, trading at low multiple.
Netflix IncMentioned as comparison: Disney's streaming acceleration contrasts with Netflix's slowing growth, but no direct impact on Netflix.