Disney earnings miss estimates, stock falls
Jeremy C. Owens
Walt Disney Co. DIS, +0.53% shares fell in extended trading Tuesday after the company reported quarterly earnings that did not live up to expectations. Disney reported second-quarter net income of $2.92 billion, or $1.95 a share, on sales of $15.23 billion, up from $14.24 billion a year ago. After adjustments comparability with a year ago, the company reported earnings of $1.87 a share, up from $1.58 a year ago. Analysts on average expected Disney to report adjusted earnings of $1.95 a share on revenue of $15.35 billion, according to FactSet. Disney stock fell more than 2% in after-hours trading, following a gain of 0.6% to $116.60 in the regular session. Disney stock has gained 8.4% so far this year, as the S&P 500 index SPX, +0.28% has increased 6.6%.