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Walt Disney (DIS) Stock Slides on Q3 Earnings, Revenue Miss

Walt Disney (NYSE:DIS) reported its latest quarterly earnings results late in the day Tuesday, which sent shares sliding as the company’s latest period yielded a rare earnings miss.

Walt Disney (DIS)The media and entertainment giant said that for its third quarter of fiscal 2018, it brought in adjusted earnings of $1.87 per share. In the year-ago period, the company brought in adjusted earnings of roughly $1.58 per share.

Analysts were calling for Walt Disney to amass adjusted earnings of $1.95 per share, according to data compiled by a Thomson Reuters survey. The company also tallied up revenue of $15.23 billion for the period, which was stronger than the $14.24 billion in sales from the year-ago quarter.

The Wall Street consensus estimate was calling for the company to rake in $15.34 billion in revenue, according to data compiled by Thomson Reuters.  Walt Disney did say that its studio revenue was up by 20% compared to the year-ago quarter to $2.88 billion, due in part by the success of Avengers: Infinity War and Incredibles 2.

The company’s media and networks revenue came in at $6.16 billion, compared to the $6.1 billion guidance that StreetAccount projected. Its parks and resorts brought in $5.19 billion in revenue, below the $5.28 billion forecast that StreetAccount called for in its poll.

DIS stock gained about 0.5% during regular trading hours in anticipation of the company’s quarterly earnings results, which sent shares sliding about 2.2% after the bell Tuesday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/walt-disney-dis/.

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