Episode Details

Disney’s Q1 2026 earnings felt less like a victory lap and more like a rollercoaster ride where the safety bar might be loose. In this episode, Susie and Miro unpack a chaotic quarter where the House of Mouse posted a negative $2.3 billion in free cash flow.

We explain why a massive "wildfire tax" bill and a spike in commercial paper borrowing spooked investors, sending the stock tumbling 5.5% during the call. 🎢📉

But the real story is hidden in the footnotes and the future. We dig into the "accounting gymnastics" behind the streaming numbers-specifically how consolidating Fubo is acting like "water in the wine" for margins despite the headline revenue growth. Plus, we debate Bob Iger’s controversial announcement that Disney+ will start featuring video content generated by OpenAI’s Sora. Is this the future of efficiency, or is Disney commoditizing its own magic?

Tune in for the unscripted truth behind the numbers. 🐭🤖