Q2 Fiscal 2026: Entertainment: Segment OI comparable to Q2 fiscal 2025; SVOD operating income of approximately $500M, an increase of approximately $200M compared to Q2 fiscal 2025. Sports: Comparable revenue to Q2 fiscal 2025, and a decline in segment OI of $100M reflecting higher rights expenses. Experiences: Modest segment OI growth, due to a combination of factors, including international visitation headwinds at our domestic parks, pre-launch costs for the Disney (DIS) Adventure at Disney Cruise Line and pre-opening costs for World of Frozen at Disneyland Paris.
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