How Much Disney Could Lose on ‘Lone Ranger’ Flop

by Christopher Freeburn | August 7, 2013 9:25 am

How Much Disney Could Lose on ‘Lone Ranger’ Flop

walt disney leaving avoid 630 300x198 How Much Disney Could Lose on Lone Ranger Flop[1]A major box office bomb will spell hefty losses[2] for Disney (DIS[3]).

Audiences pointedly avoided the media giant’s remake of the classic TV show The Lone Ranger this summer. In its opening weekend, the film generated just $29 million in North American ticket sales, Reuters notes.

The poor performance will cost Disney between $160 million and $190 million in losses during the current quarter, the company’s CFO said on Tuesday.

Starring Johnny Depp, The Lone Ranger was just one of a number of big-budget blockbusters that failed to attract audiences this summer, including Sony‘s (SNE[4]) disappointing¬†$130 million Will Smith flop[5], After Earth.

Disney reported that during the June quarter, its film studio’s operating income fell 36%. Despite that, the company posted a quarterly profit of $1.85 billion. Adjusted EPS came in at $1.03, topping the $1.01 that Wall Street had forecast.

Shares of Disney fell almost 2% in Wednesday pre-market trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/08/walt_disney_leaving_avoid_630.jpg
  2. will spell hefty losses: http://in.reuters.com/article/2013/08/06/us-disney-results-idINBRE97512H20130806
  3. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  4. SNE: http://studio-5.financialcontent.com/investplace/quote?Symbol=SNE
  5. $130 million Will Smith flop: http://investorplace.com/2013/06/summer-movies-stocks-flops-superheroes/

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