This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Disney Falls on 'Lone Ranger' Losses; Fox Jumps on Cable-TV Growth

Stocks in this article: DIS FOXA

NEW YORK ( TheStreet) -- Disney (DIS)beat analyst forecasts for a 9th consecutive quarter as the world's largest entertainment company reported gains at its hugely popular ESPN network and its assortment of theme parks.

Net income increased to $1.85 billion, or $1.01 a share, from $1.83 billion, or $0.79 a share from the same period a year ago. Revenue grew 4.4% to $11.6 billion in the period ended June 29.

Disney shares were dropping in post-market trading as the Burbank, Calif.-based company said it expected The Lone Ranger to lose as much as $190 million. Disney closed on Tuesday at $67.05.

Gains at Disney's cable-TV channels led by ESPN and A&E offset decreases at ABC Family, which endured a drop in ratings. Broadcasting operating income fell $55 million to $213 million as primetime programming costs grew and advertising revenue declined.

Disney's The Lone Ranger remake, starring Johnny Depp and Armie Hammer, was a giant disappointment for the studio. The film brought in only $185 million, forcing a write down of $150 million after it fell short of recouping $250 million in production costs. That film and Iron Man 3 were unable to replicate the success the studio saw last summer with the releases of The Avengers and Brave.

Elsewhere, 21st Century Fox (FOX) was surging in after-hours trading after posting an operating profit increase of 64% as the media company controlled by Rupert Murdoch reported its first earnings since spinning off its publishing businesses.

Fox reported income from continuing operations of $977, or 42 cents a share, compared with $596 million, or 25 cents from the same period a year ago.

The bump in profits came from Fox's cable-TV channels which helped to offset a decline at the company's film division, slowed in part by the disastrous showing of "The Internship." Sales were slightly above expectations at $7.21 billion compared to a consensus of $7.12 billion.

-- Written by Robert Arenella in New York

>To contact the writer of this article, click here: Robert Arenella.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs