Disney Says Film Studio’s Expenses Weigh on Current Quarter

Disney Sales Miss Estimates, Film Expenses Weigh on Results

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By Thomas Buckley

November 13, 2025 at 11:40 AM UTC

Updated on

November 13, 2025 at 9:14 PM UTC

Walt Disney Co. reported sales that fell short of Wall Street estimates and said a slate of big-budget films, including a new Avatar picture, will weigh on results for the first quarter of its new fiscal year.

Revenue for the fourth quarter was little changed at $22.5 billion, Disney said Thursday in a statement, falling below the $22.8 billion average of analyst estimates compiled by Bloomberg. Earnings came to $1.11 a share in the period ended Sept. 27, excluding some items, beating estimates of $1.07.