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Disney Q3 Earnings, Revenue Fall Shy of Wall Street Expectations


Despite recently setting a new record for total global box office, The Walt Disney Co. on Tuesday reported earnings and revenue for the fiscal third quarter that fell shy of Wall Street expectations.


The Mouse House spent $71.3 billion to acquire film and TV entertainment assets from Fox in March.


“Our third-quarter results reflect our efforts to effectively integrate the 21st Century Fox assets to enhance and advance our strategic transformation,” Iger said in a statement.


“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,” he continued.


The increase in theatrical results was due to the box office performances of “Avengers: Endgame,” “Aladdin,” “Captain Marvel” and “Toy Story 4,” the company said.


Disney noted, however, that the performance of Fox’s film business was less than expected, and saw an operating loss of more than $120 million in the quarter.




READ MORE (TheWrap)


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