The Walt Disney Company reported fiscal third-quarter 2026 Sports revenue of $4.5 billion, up 4%, while segment operating income fell 17% to $858 million. Management attributed the shortfall against its forecast partly to early-round NBA playoff sweeps and a network carriage dispute. Calculated from reported revenue and operating income, the Sports operating margin fell to approximately 19.1% from 24.1%. Sports subscription and affiliate fees rose 8%, with the NFL transaction contributing approximately four percentage points, and advertising revenue increased 5%, while programming and production costs rose 10% to $3.05 billion, driven by contractual increases, new rights, and an NBA renewal that shifted expense recognition into the third quarter. Disney did not quantify the separate profit effects of the sweeps and the carriage dispute, and Insider Monkey's database showed 98 hedge funds holding the stock at the end of 2Q2026, down from 119 funds three months earlier.
Walt Disney CompanyDisney's Sports segment operating income fell 17% to $858M and margin dropped to ~19.1% from 24.1% on higher programming costs.
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