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Walt Disney Co (NYSE:DIS) shares are down after reporting a third-quarter earnings miss.
Adjusted earnings came in at $1.35, missing estimates by 40 cents per share. Sales came in at $20.25 billion, missing estimates by $1.24 billion.
"Our third-quarter results reflect our efforts to effectively integrate the 21st Century Fox assets to enhance and advance our strategic transformation," said Robert Iger, Chairman and CEO.
"I'd like to congratulate The Walt Disney Studios for reaching $8 billion at the global box office so far this year--a new industry record--thanks to the stellar performance of our Marvel, Pixar and Disney films. The incredible popularity of Disney's brands and franchises positions us well as we launch Disney+, and the addition of original and library content from Fox will only further strengthen our direct-to-consumer offerings."
Highlights
- Media networks segment grew 21% year-over-year
- Parks, Experiences and Products segment grew 7% year-over-year
- Studio Entertainment segment grew 33% year-over-year
Disney shares traded lower by 3.8% to $136.50 in Tuesday's after-hours session.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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