Disney Misses Wall St. Profit Forecasts
The Mouse House reported quarterly adjusted earnings of $1.10 a share, missing Wall Street's projection of $1.16 a share.
Disney (DIS) - Get Report reported quarterly adjusted earnings of $1.10 a share, missing Wall Street's projection of $1.16 a share. Revenue for the media giant came in at $13.14 billion compared with analysts' estimate of $13.52 billion. Media Networks revenues for the quarter decreased 3% to $5.7 billion, and segment operating income decreased 8% to $1.7 billion. Operating income at Cable Networks decreased $207 million to $1.4 billion for the quarter due to decreases at ESPN and the Disney Channels, partially offset by an increase at Freeform. Parks and Resorts revenues for the quarter increased 1% to $4.4 billion, and segment operating income decreased 5% to $699 million due to a decrease in its international operations.
