Disney Shares Slip After Hours on Mixed Quarterly Results

Disney (DIS) reported fiscal third quarter results after the closing bell on Tuesday. Earnings per share came in at $1.45, ahead of estimates by $0.03. Revenue totaled $13.1 billion, a 5 percent year-over-year rise, but fell short of the $13.23 billion analysts expected. Revenue at its media networks rose 5 percent, which includes the ABC and ESPN channels. Theme park sales rose 4 percent to $4.1 billion following greater park attendance. Studio entertainment sales jumped 13 percent during the quarter amid strength in its Marvel franchise. Consumer products revenue saw gains of 6 percent on the heels of strength in Frozen, Star Wars and The Avengers merchandise. Shares of Disney fell almost 2.5 percent in after-hours trading, but wrapped up Tuesday's session with a slight gain. The stock is up a staggering 29 percent since the start of the year. For TheStreet, I'm Scott Gamm in New York.