Calling all Disney experts! We’ve got some BIG news to share with you.
On November 13th, 2025, Disney released its earnings report for Q4 of fiscal year 2025, along with holding its earnings call. Disney shared updates about the theme parks, Disney+, the Disney Cruise Line, and a whole lot more. Let’s take a look at what’s going on at the Walt Disney Company!
Big Picture Updates
Looking at the big picture, Disney shared an overview of the company’s financial situation. In Q4, revenues of $22.5 billion were comparable to Q4 fiscal 2024, and increased 3% for the year to $94.4 billion from $91.4 billion in the prior year.
Total segment operating income increased 12% for the year to $17.6 billion from $15.6 billion in the prior year. Diluted earnings per share for Q4 increased to $0.73 from $0.25 in Q4 fiscal 2024. By comparison, in Q3, revenues increased 2% for Q3 2025 to $23.7 billion from $23.2 billion for Q3 2024. Diluted earnings per share for Q3 2025 were up to $2.92 from $1.43 for Q3 2024.
How are the individual aspects of the Walt Disney Company doing?
Theme Parks, Disney Cruise Line, and More
First up, let’s talk about the Disney Experiences division, which covers the Cruise Line, merchandise, and the theme parks. Disney shared that Disney Experiences recorded a full-year segment operating income of $10.0 billion, an increase of $723 million compared to the prior year. For the Q4 segment, they recorded an operating income of $1.9 billion, an increase of $219 million compared to the prior-year quarter.
For Q4, the International Parks & Experiences operating income grew 25% to $375 million.
While the Domestic Parks & Experiences operating income grew 9% to $920 million.
Looking at park attendance this year, domestic parks saw a 1% decrease from last year. On the other hand, international parks saw a 1% increase (the previous year saw a 9% increase).
Despite the decrease in attendance, the domestic parks were up 5% in guest spending, and up 2% at the international parks. The higher spending came from food and beverage, merchandise, and premium offerings.
Resorts and vacations revenue went up 5%, driven by a 5% growth in passenger cruise days, a 2% increase in domestic hotel occupied room nights, and a 1% increase in Disney Vacation Club unit sales.
Even the resort hotels saw an increase in stays, with domestic Disney hotel occupancy at 87% (up from 85%) and international Disney hotels at 87% (up from 82%). The occupancy benefited from an increased demand and continued strength in on-property stays.
In Q3, parks and experiences revenue was $9,806,000 in Q3 2025. This comes after Disney had previously said that bookings were “up” in the summer.
With lots of projects underway for the Disney theme parks (like Pueblo Esperanza for Animal Kingdom, Monsters, Inc. land for Hollywood Studios, and even an Avatar land for Disneyland), Disney Cruise Line, and more, it’ll be interesting to see how attendance is impacted in the coming months and years.
Click here to see ALL the expansions, lands, and rides announced by Disney
Disney+ and Streaming
Disney announced that Disney+ currently has 132 million subscribers. Additionally, Hulu is now sitting at 64.1 million subscribers.
During the earnings call, Bob Iger was asked about the future roadmap of Disney+ and how subscribers will be able to engage with parks and other assets on the app.
Iger mentioned that with AI, Disney+ could become a portal to all things Disney. It’s an opportunity for engagement, and Iger even teased that they could create and consume user-generated content from others. A TikTok or Instagram Reels-type feed on Disney+? Sounds interesting…
What’s next for the Disney Company? Well, these earnings calls give us a good idea of what’s going on now, which can give us an idea of what Disney might want to do in the future. Attendance numbers, subscriber numbers, operating income, revenue, and more show us what’s doing well (and what’s not doing well) for Disney, and where they might want to invest more (or less!) of their money in the future. That could directly impact what you get to see on Disney+, your Disney+ subscription price, the cost of your next trip to a Disney theme park, and MORE.
We’ll be on the lookout for more news you need to know about from The Walt Disney Company. In the meantime, make sure you stay tuned to AllEars for the latest Disney news and more!
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What do you think of these announcements? Let us know in the comments.
Of course revenue went up at the domestic parks even though attendance went down, Disney keeps raising prices! Which also explains why guest spending went up. So, great for shareholders but not so much if you are just a “guest”.