Josh D'Amaro Shares First Earnings as Disney CEO

Disney has shared its Q2 2026 earnings – its first earnings report under CEO Josh D’Amaro. 

Despite a challenging first couple of months as CEO, with the company announcing cuts of around 1,000 jobs in April, Disney saw strong financial results. Revenue increased 7% in the second quarter, with revenue in the entertainment division rising 10% and the company’s streaming unit reporting an 88% leap in operating income. 

Josh celebrated these results in a memo to staff, reported on by Business Insider, telling employees: “The results we reported are not just numbers on a page – they are a direct reflection of your hard work, creativity and the way you deliver for our fans every single day.”

Growth across 2026

In his memo to staff, Josh outlined the company’s top four priorities for 2026: investing in “breakthrough creating storytelling,” strengthening its streaming business, building ESPN’s direct-to-consumer model and growing Disney Experiences. 

Josh says the company is “incredibly excited”, for its upcoming slate of releases in 2026, with recent successes such as the release of The Devil Wears Prada 2 and Pixar’s Hoppers acting as a reminder of the company’s track record of “creating original IP that resonates around the world. 

Product and technology innovation are also set to play a significant role in the company’s growth across 2026, with Josh sharing that Disney made “meaningful progress” during its second quarter with “product enhancements that improved the Disney+ user experience”. 

To further the company’s growth in its streaming business, Josh says it is also increasing its investment in “local originals,” for UK and Korean markets. 

Building brand strength

Live sports has so far proved a challenging market for Disney, with ESPN operating income falling 5% in the second quarter and the company yet to start rights renewal negotiations with the NFL. 

Despite this, Josh says ESPN’s “brand strength,” was clear in Q2, with the company making enhancements to its app to make the product more compelling for fans and help Disney achieve its goal of “fully capturing the power of live sports”. 

In Q2, Disney’s cruise line launched the Disney Adventure, its first ship home-ported in Asia. This, Josh says, is a milestone that extends “the reach of our brands to new markets and new fans around the world,” and reinforces the company’s confidence in the long-term opportunity of its Disney Experiences portfolio. 

Concluding his letter to employees, Josh said he was “grateful for the passion, resilience and optimism you bring to your work, and I'm energised by the opportunities in front of us as we lay the groundwork for Disney's next phase of growth”.

A challenging first quarter as CEO

Josh’s first quarter as CEO has been marked by challenge – with the company announcing layoffs just one month after he took on the role. 

Approximately 1,000 employees are expected to be made redundant as a result of the cuts, particularly in the company’s marketing department. 

In an employee email  announcing the layoffs seen by Reuters, Josh said: “Given the fast-moving pace of our industries, this requires us to constantly assess how to foster a more agile and technologically-enabled workforce to meet tomorrow’s needs. 

“As a result, we will be eliminating roles in some parts of the company.”