Disney Reaffirms Double-Digit Earnings Growth, Targets $9 Billion in Buybacks. Here’s What Investors Need to Know.

Disney posted fiscal Q3 revenue of $25.2 billion, up 7%, and adjusted net income of $3.8 billion, up 23%, surpassing earnings estimates. The entertainment giant reaffirmed double-digit earnings growth guidance for both fiscal 2026 and 2027, while boosting its share buyback program to $9 billion for the current fiscal year—a signal management sees the stock as undervalued at current levels.

The buyback increase represents a significant capital allocation shift for DIS, which has faced pressure from streaming losses and linear TV headwinds in recent quarters. The 23% jump in adjusted net income suggests operating leverage is beginning to materialize as Disney+ moves toward profitability and parks continue to deliver strong margins.

The company's multi-year earnings growth outlook provides a roadmap through fiscal 2027, giving investors visibility beyond the near-term noise around content spending and sports rights negotiations. The $9 billion buyback program adds a floor under the stock while returning excess cash to shareholders.