Disney stock falls 7% as media giant posts mixed results

Disney reported fiscal fourth-quarter earnings on Thursday that topped analyst expectations for earnings but missed on revenue as the company’s entertainment business was weighed down by its TV networks and a lackluster theatrical film slate.

Disney stock closed down more than 7% on Thursday.

Here is what Disney reported for the period ended Sept. 27, compared with what Wall Street expected, according to LSEG: 

• Earnings per share: $1.11 adjusted vs. $1.05 expected
• Revenue: $22.46 billion vs. $22.75 billion expected

Net income for the quarter was $1.44 billion, or 73 cents a share, more than double the $564 million, or 25 cents per share, that Disney reported in the same period a year earlier. Adjusting for one-time items Disney reported earnings per share of $1.11. 

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