Walt Disney stock builds on streaming and parks growth

Walt Disney stock (US9314271084) is anchored by FY2025 figures that show how the company still blends media, streaming, and parks into one earnings base. The most recent investor relations material at Disney investor relations remains the main corporate source for the latest reporting cycle.

FY2025 revenue and earnings

In FY2025, Disney reported revenue of $91.4 billion, up from $89.4 billion in FY2024, while diluted EPS reached $4.97 compared with $2.72 a year earlier. That is a clear year-over-year comparison and it shows why the stock is still judged on both content execution and the cash engine behind parks.

Operating income also mattered in FY2025, with the company posting $16.0 billion, versus $12.9 billion in FY2024. The shift points to a business that is still sensitive to margin discipline, even after several years of streaming investment.

Streaming scale still matters

Disney ended FY2025 with 157.6 million Disney+ and Hulu subscriptions on a combined basis, a useful reminder of how scale still supports the direct-to-consumer model. The subscriber base was a major source of investor focus in the latest reporting cycle because it connects engagement to future pricing power.

At the same time, the company has been emphasizing profitability rather than pure subscriber growth. That matters because the comparison now runs against a much larger base than in the early streaming build-out phase.

Revenue up 2.2%

Revenue rose 2.2% in FY2025, which is modest by media standards but still enough to support a much stronger profit picture than the prior year. The combination of $91.4 billion in revenue and $4.97 in diluted EPS suggests the market is likely to keep separating top-line growth from earnings quality.

Operating income rising to $16.0 billion from $12.9 billion also shows that Disney is not relying on one single segment to carry the group. For investors, that mix is more important than any one quarter because it ties valuation to execution across entertainment, sports, and experiences.

Parks and experiences remain central

Disney’s experiences segment remains the stabilizer in the portfolio, even when media advertising or streaming trends change quarter to quarter. The financial relevance is visible in the earnings mix, where the company’s segment structure still gives it a very different profile from pure streaming peers.

That is one reason the stock often trades on a broader operating story than a single headline release. The company’s latest FY2025 numbers show that the balance between content spending and margin delivery is still the key question.

Disney+ and Hulu scale

The 157.6 million combined Disney+ and Hulu subscriptions in FY2025 underline the scale of the direct-to-consumer platform. The number matters because it gives Disney leverage in bundling, ad products, and pricing, even after the era of subscriber-first growth has cooled.

The comparison also matters. A much larger installed base means every incremental gain in monetization has a bigger effect than in the launch phase of streaming.

Stock context at the close

Disney shares on the NYSE trade in USD, and the stock remains tied to the company’s reported FY2025 operating base rather than a single product cycle. The most recent investor-relations material is the right reference point for the next dated update and for how the market will measure the company against its $91.4 billion revenue base and $4.97 diluted EPS.