Disney beats 3rd-quarter profit expectations but revenue falls short on studio miss | iNFOnews

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Disney beats 3rd-quarter profit expectations but revenue falls short on studio miss

Disney beats 3rd-quarter profit expectations but revenue falls short on studio miss
August 07, 2012 - 4:42 PM

LOS ANGELES, Calif. - The Walt Disney Co.'s profit for the third-quarter beat analyst estimates but revenue came up short due to unchanged revenue at its movie studio despite a surge in profit from "The Avengers."

Net income rose 24 per cent to $1.83 billion, or $1.01 per share. There were minor adjustments that had no impact on the per-share results, which exceeded the 93 cents per share expected by analysts polled by FactSet.

Revenue rose 4 per cent to $11.09 billion, short of the $11.32 billion expected by analysts.

Disney's movie studio was behind much of the revenue miss, although the Marvel superhero epic "The Avengers" helped boost profit in the segment.

Disney's stock fell 12 cents to $49.69 in after-hours trading.

News from © The Associated Press, 2012
The Associated Press

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