Disney will be reporting results this Wednesday before market hours. CNBC's Julia Boorstin reports on what to watch for and what to expect.

Disney's stock has risen significantly following better-than-expected earnings, with current attention centered on its streaming and parks divisions. The parks segment remains Disney's largest source of operating income, and analysts are monitoring the effects of tariffs, consumer spending, and new competition from Universal's recently opened theme park. Disney's ongoing $60 billion investment in its parks is also under scrutiny, with forecasts suggesting accelerated income growth in the coming years.

The streaming business is another focal point, especially after Disney gained full control of Hulu and prepares to launch a comprehensive ESPN streaming product. Analysts expect an increase in Disney Plus subscribers and are watching for potential ownership deals between ESPN and the NFL. The impact of Universal's new park on Orlando's tourism and Disney's performance will also be closely watched.

Disney earnings: Here's what to expect

Julia Boorstin is here. She's gonna talk to us about what to watch this time around and Julia You are a very careful Disney watcher. So I trust what you're saying on this. What should we look at? Well, it's so interesting to look at what's happened to Disney stock as you mentioned up nearly 30% since it's better than expected Earnings in May now the focus is on streaming Which is the fastest growing part of Disney's profits and also on its parks and experiences division Which is Disney's biggest driver of operating income now The parks will be closely watched for commentary on the impact of tariffs and consumer spending trends The wild card for the parks is the opening of Universal's epic universe in May We'll see what the company says about that new competition and it's been nearly two years since Disney announced It's investing 60 billion dollars in his parks division over a decade Morgan Stanley is now forecasting the divisions operating income growth will accelerate to over 10% in fiscal 2026 now meanwhile Disney's streaming business is going to be in focus on the heels of Disney Completing the buyout of Comcast steak and Hulu giving it full control and ahead of the launch of its full ESPN Streaming product which is expected to come the next month now Moffat Nathan said with a buy rating on the stock writing quote the real upside for Disney shareholders will be once the company can provide a strong narrative for what Elevated level of growth at direct-to-consumer is achievable and then continue to execute only then do we expect Disney shares to deliver a much Greater premium multiple now this quarter analysts are looking for the addition of about one and a half million Disney Plus subscribers they're also watching to see whether ESPN announces a deal with the NFL in which the NFL and ESPN trade ownership stakes effect. Yeah, that's gonna be so interesting And I always wonder what the NFL's other partners think about that at that point if you're Dealing with somebody who's already in bed with one of your competitors how much more complicated that makes the way it's structured will be Fascinating, but I think what we're effectively seeing here is that instead of compensating with revenue They're compensating with an equity stake and we've seen so much about people getting paid in equity and tech companies the questions whether they Could do this kind of exchange in a media company Yeah, no, no question that Roger Goodell is kind of brilliant with how the structure is going for that I'd rather get paid in stock to or in Bitcoin Their interests are aligned with going through that the other thing though I had forgotten that Universal's launch was over this past quarter. So that's gonna be really something to see How that impacted the flow at least to Orlando theme parks and look there might have been more of a flow Or you know in these sort of early days after launch to Universal's theme park But the theory is that over time anything that makes Orlando more of a destination is good for everybody's good for everyone So we'll see whether there is a near-term impact, okay, and Julia these results come out tomorrow and I will see tomorrow I'm wearing a squawk. I'll be there. Okay, look forward. It's a date

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