Disney Q2 Earnings Beat Expectations Despite Dip in US Park Attendance

Despite fewer visitors, spending per customer on admissions, food, and merchandise rose 5%, indicating higher per-capita revenue from those who did attend. Meanwhile, Disney’s sports unit posted mixed results: revenue increased 2% to $4.61 billion, but operating income fell 5%, reflecting rising costs in live sports broadcasting.

Strategic Shifts Under New Leadership

CEO Josh D’Amaro, who took the helm earlier this year, outlined a long-term strategy built on three pillars, though specifics were not disclosed in the earnings report. The company also confirmed it will not proceed with a previously planned investment in OpenAI, the artificial intelligence research lab.

The decision comes as OpenAI recently shut down its AI video-generation tool, Sora, though Disney did not link its withdrawal to that development. The move suggests a shift in Disney’s tech investment priorities as it focuses on core entertainment and experiences businesses.

Analysts will be watching closely to see how D’Amaro’s leadership steers Disney through evolving consumer trends, particularly in streaming and theme park operations. The slight attendance dip in U.S. parks may prompt further adjustments in pricing or promotions to maintain growth in the experiences segment.