Disney CEO Josh D'Amaro said Friday that the company's parks division was a "big surprise" last quarter but that he remains dissatisfied with where Disney stock is trading. "I'm not happy with where the stock stands right now," D'Amaro told CNBC. "Our investors aren't happy with that, but I do believe that we're sitting in a very great space relative to the entertainment industry." Over the past year, Disney shares have fallen more than 8%.
D'Amaro's comments came one week after Disney reported quarterly results that showed growth in its theme park segment. He described the parks results as a bright spot, but declined to say whether ticket prices would rise, framing the company's priorities around continued capital investment at its resorts. D'Amaro, who took over as CEO from Bob Iger in March, said he feels confident about the company's direction nearly six months into the role.
"We're delivering on everything that we said we're going to deliver on," he told CNBC. "Almost six months in, I'm feeling pretty good about where we are." On streaming, D'Amaro touted Disney+'s expanding reach and said the company is exploring a no-cost, ad-supported tier — calling it a potential "front porch" — that could introduce new audiences to the service before converting them into paying subscribers. He sketched out a longer-term vision in which Disney+ would serve as a unified hub, allowing fans to shop and interact with other corners of the company without leaving the app.
D'Amaro also addressed ongoing calls from some investors to spin off ESPN, rejecting the idea. "I've been clear that I'm not interested in spinning off ESPN," he said. He argued that ESPN's holdings — covering the NFL, NBA, and other major leagues — represent a position rivals would struggle to match.
The CEO also addressed regulatory pressure from the Federal Communications Commission, which has opened an early review of Disney's broadcast licenses over concerns related to the company's diversity, equity, and inclusion practices, and has raised objections to programming on ABC. "We're very principled on this," D'Amaro said. "We're going to stand up to what we believe is journalistic and integrity, and we're not going to be told how to run that side of our business." D'Amaro said the company's next phase would center on storytelling, technology, and operating as what he called "One Disney," a phrase he has used before to describe tighter coordination across business units.
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