08-07-2019, 12:32 AM
https://www.bbc.co.uk/news/business-49259292
Walt Disney's latest profit has failed to impress Wall Street, despite producing blockbuster movie hits including Avengers: Endgame and Toy Story 4.
Disney's shares fell 5% in after-hours trading when the firm posted figures that missed analysts' forecasts.
Profits at the entertainment giant fell 51% to $1.4bn in the last three months, despite revenues rising 33% to $20.2bn.
Avengers has become the biggest grossing movie ever, beating Avatar.
But profits from a string of movie hits, including Aladdin, failed to offset other costs at the company.
Sounds bad on the face of it; however, it seems that a lot of this is due to costs associated with the Disney streaming service and the 21st Century Fox acquisition.
Only time will tell whether those investments pay off; however, there are reasons to believe that things won't be so bad for them going forward.
Walt Disney's latest profit has failed to impress Wall Street, despite producing blockbuster movie hits including Avengers: Endgame and Toy Story 4.
Disney's shares fell 5% in after-hours trading when the firm posted figures that missed analysts' forecasts.
Profits at the entertainment giant fell 51% to $1.4bn in the last three months, despite revenues rising 33% to $20.2bn.
Avengers has become the biggest grossing movie ever, beating Avatar.
But profits from a string of movie hits, including Aladdin, failed to offset other costs at the company.
Sounds bad on the face of it; however, it seems that a lot of this is due to costs associated with the Disney streaming service and the 21st Century Fox acquisition.
Only time will tell whether those investments pay off; however, there are reasons to believe that things won't be so bad for them going forward.
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