Q2 FY26 · Ended Jun 30, 2026 · View SEC filing
Operating gains stopped before reaching shareholders
Interest, a heavier tax bill and investee losses absorbed most of operating income, while a larger share count halved earnings per share.
For investorsWhat operating profit looks like once the revaluation runs off
For foundersSelling one title many times
Revaluing assets at the change of control cut programming costs and lifted amortization, so part of the margin gain is accounting.
Revenue per subscriber rose twice as fast as the subscriber base, and the quarter still added subscribers despite a distribution loss in Japan.
Half of revenue comes from fees paid by distributors and subscribers, which kept revenue nearly flat while advertising and film fell.
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Business Lens describes Skydance from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
