CAPITAL MARKETS

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The IPO landscape has become much like a game of red light, green light: Stop, and go, stop, and go.

Before large public offerings like SpaceX, and with Anthropic and OpenAI on the horizon, many prospective public companies were in “the wait game,” Armanino finance and accounting advisory partner Wendy Beck told CFO Brew.

But since SpaceX’s blockbuster IPO and the June S-1 filings of Anthropic and OpenAI, “more companies are starting to speed up the process,” Beck said. “More companies are talking about, you know, ‘What do I need to do? How can I best prepare? What are some of the priority items I need to think about?’”

The right CFO. Does the CFO (you?) have the expertise to take the company public? That’s “typically one of the largest gaps with a company going public is having a CFO who’s gone through that process before,” Beck said. CFOs who “haven’t gone through that process, unfortunately” can underestimate “the level of effort it takes.”

Are your accounting and FP&A functions up to supporting a public company?—DL

      

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TALENT MANAGEMENT

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Though peak AI hype may have cooled, financial services leaders still expect the technology to reshape their workforce, according to a survey by PwC. Around eight in 10 respondents predicted their organizations’ headcount would get at least 20% smaller in the next five years due to AI. At the same time, they placed a high value on AI acumen: 86% said that for many new hires, AI training is “more valuable than an MBA.”

PwC’s 2026 Financial Services Workforce AI Survey, conducted in May, polled 1,004 employees at director level or higher at financial services firms bringing in at least $500 million in revenue. Respondents were equally distributed across industry sectors, including asset and wealth management, banking and capital markets, insurance, and private equity.

The survey painted a picture of a smaller financial services workforce where AI skills are prized. Around half of leaders (51%) polled anticipated a “compression in manual roles” within the next year owing to the adoption of AI, while nearly two-thirds (62%) planned to hire more staff with AI skills.

Respondents also indicated that AI knowledge is in high demand: Around six in 10 (58%) said they’d “pay a premium for AI fluency” within the next year, while the same percentage said they’d link compensation “directly to AI-enabled productivity.”

The pressure to adopt AI may be putting a strain on staffers.—CV

      

PROFITS

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Disney shareholders must have kissed the right amphibian, because the iconic entertainment company is having a Princess and the Frog-level glow-up.

Today, shares jumped 3.65% after Disney proved that its revival strategy seems to have paid off:

• Q3 profit handily beat forecasts: Adjusted earnings per share came in at $2.06, up 28% year over year and beating projections of $1.86.
• Revenue rose 7% year over year to $25.25 billion, but slightly missed forecasts of $25.4 billion.
• Streaming operating income from Disney+ more than doubled year over year, showing that Disney’s once beleaguered streaming business has become a growth driver.
• Theme parks continued to be a boon for the company—revenue for the company’s experiences division, which encompasses cruises and parks, surged 10% year over year.
• Toy Story 5 was a huge hit, bringing in over $1 billion at the global box office.

“Overall, this was one of Disney’s strongest quarters in recent years because it showed multiple growth engines—parks, films, streaming, consumer products, and digital partnerships—all contributing simultaneously while free cash flow and shareholder returns continue to improve,” explained Eric Clark, portfolio manager of the LOGO ETF, in a note.

A new partnership will bring Disney into short-form video, Brew Markets reports.—LB

      

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market forces

Francis Scialabba

Today’s top finance reads

Stat: $82.49 per barrel. That’s where crude oil prices climbed to this week after Iranian state news published stipulations concerning Strait of Hormuz traffic. (CNBC)

Quote: “In the Middle East, geopolitical tensions and shipping constraints are expected to persist, resulting in higher logistics costs and pressure on volumes despite the resilient customer demand.”—Nissan Motor CFO George Leondis on the impact of the Iran conflict (The Wall Street Journal)

Read: What’s behind the delays in data center developments? It’s a lot more than public opposition. (CNN Business)

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Friday Quiz

Amelia Kinsinger

The week’s biggest CFO Brew stories—now in quiz form. Test yourself on the latest headlines in accounting, financial trends, risk management, and more in a quick, competitive challenge built for finance leaders. Challenge your coworkers and see how your score stacks up!