Walt Disney shares nudge higher despite disappointing fourth quarter earnings
Walt DisneyBob Iger
Friday, 10 November 2017 () Walt Disney Co (NYSE:DIS) shares nudged higher after hours despite the media and film giant posting fourth quarter numbers that missed expectations. Shares are likely to be in focus again today, but after the bell they added 0.60% to US$103.30. The group reported net income of US$1.75bn, down 1% from a year earlier. Revenue declined 3% to US$12.8bn and the company failed to meet analysts’ expectations. Weighing again on performance was the sports TV unit ESPN, which blamed lower advertising revenue and higher program costs. It also saw subscriber losses. Of Disney's four operating segments, only parks and resorts posted rising revenue and operating income. The film studio business saw revenues decline 21% as Cars 3 didn't perform as well as Finding Dory did a year ago. Disney chief however Bob Iger revealed yesterday that that a new Star Wars trilogy is in the works, which will be directed by Rian Johnson. Disney has dominated the box office in recent years, delivering hits from Pixar, Marvel, and Lucasfilm, which it acquired in 2006, 2009, and 2012, respectively.
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