Disney Revenue Falls Short of Estimates, Shares Take a hit

Disney (DIS) shares are taking a hit because revenue didn't quite match what analysts had expected. While revenue of $13.1 billion was a 5% increase from last year, analysts expected more. The disappointment was mainly due to unfavorable currency exchange rates. On the earnings front Disney exceeded expectations for a 17th straight quarter. Analysts also have questions about the long term picture with Disney's sports network ESPN in the age of cord cutting. Disney continues to reap the benefits of its strong film studio with 'The Avengers' and "Frozen' churning profits for the company. Disney stock is taking a hit today but it has been a big winner in the past year with gains of 40% in the past 12 months. In the past 3 years, Disney shares are up 128% compared to the S&P 500 up 50% over that same time.