For Disney, the 2025 fiscal year ended with a split screen: Theme parks were packed, streaming kept climbing, but the magic didn’t fully translate to the box office. CEO Bob Iger and chief financial officer Hugh Johnston released the company’s full fiscal year and fourth-quarter results on Thursday.

The company’s end-of-year performance reflected mixed results, with weaker performances from the box office and in cable, but continued growth in streaming and theme parks.

“This was another year of great progress as we strengthened the company by leveraging the value of our creative and brand assets and continued to make meaningful progress in our direct-to-consumer businesses,” Iger and Johnston said in a joint statement .

Disney reported fourth-quarter earnings of $22.5 billion, up 3%

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