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Walt Disney Co. (DIS) - Get Walt Disney Company Report CEO Bob Iger warned that the company's fiscal 2017 would be a reset year. Yet investors have been holding out for a good-news surprise.

On Thursday, Sept. 7, they didn't get one.

Iger told an investor gathering hosted by Bank of America Merrill Lynch that earnings for the year ended Sept. 30 would be "in line" with last. A similar finish for Disney's 2017 would translate into an earnings increase of about 3.2%. 

Despite Iger adding that 2018 will be stronger than 2017, shares were tumbling 3.9% Thursday to $97.58, extending the stock's 2017 decline to 6.3%. The benchmark S&P 500 index has gained nearly 10% this year. Iger's underwhelming forecast prompted 21st Century Fox Inc. (FOXA) - Get Fox Corporation Class A Report to drop 3.7%, CBS Inc (CBS) - Get CBS Corporation Class B Report to fall 3.5% and AMC Networks Inc.  (AMCX) - Get AMC Networks Inc. Class A Report to lose 3.4% 

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Iger's comments follow a mixed fiscal third-quarter earnings report in which the company beat consensus analyst estimates but missed on revenue. The biggest drag on earnings came from its cable-TV network group, led by the sports channel ESPN, which continues to lose subscribers as millennials chose not to subscribe to pay-TV.

Seeking to offset those loses, Disney announced last month that it plans to start its own branded direct-to-consumer streaming service in 2019. Iger sought on Thursday to appease Disney investors by announcing that the yet-to-be priced service would include "Star Wars" and Marvel films. Last month, Iger said the service would include Pixar features. Nonetheless, the service is not expected to launch until late 2019, he added.

Disney said it also will launch an ESPN video streaming service in early 2018, featuring content from Major League Baseball, the National Hockey League, Major League Soccer, collegiate sports and Grand Slam tennis events.

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