Disney earned $1.38 billion, or 77 cents a share, in the first quarter, down from year-earlier earnings of $1.46 billion, or 80 cents a share.
Adjusted earnings in the quarter were 79 cents a share, topping the Wall Street estimate of 76 cents a share.
Disney said programming and production costs at its ESPN network rose during the quarter.Disney CEO Robert Iger, during a conference cal Tuesday, said the entertainment giant was "confident about the year ahead, as well as our ability to create continued long-term growth."
Zynga (ZNGA - Get Report) topped Wall Street's estimates on Tuesday, posting profit of 1 cent a share on fourth-quarter revenue of $311.1 million. Analysts were looking for a loss of 3 cents a share on sales of $212.1 million. For the full year, Zynga reported sales of $1.28 billion, up 12% from a year earlier, as daily active users (DAUs) increased to 56 million in the fourth quarter from a year-earlier 54 million. DAUs decreased 6% sequentially from the third quarter to the fourth quarter. For the first quarter of 2013, Zynga said it expects revenue of $255 million to $265 million, and a loss off 2 cents to 4 cents a share. Zynga Has 'Words With Investors,' Earns Profit
Time Warner (TWX - Get Report), which owns networks CNN and HBO and the New Line Cinema and Warner Brothers movie studios, is expected by analysts Wednesday to post fourth-quarter earnings of $1.10 a share on revenue of $8.25 billion. Give Amazon Some Respect
News Corp (NWSA - Get Report) is expected by Wall Street Wednesday to report quarterly profit of 42 cents a share on revenue of $9.28 billion. The media company plans to split later in 2013 into a publishing company and a filmed entertainment business.
Drug retailer CVS Caremark (CVS) is forecast to earn $1.10 a share in the fourth quarter on revenue of $31.13 billion. 5 Hated Stocks Set to Soar on Earnings
Chipotle Mexican Grill's (CMG - Get Report) fourth-quarter earnings rose 7% as same-store sales jumped 3.8% on higher customer traffic.
-- Written by Joseph Woelfel
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