Posted on 11/10/2016 2:50:01 PM PST by John W
It seems we’re regularly seeing Disney earnings come in below expectations, ESPN blamed for the miss, and Disney stock dropping as a result.
That’s what happened in May (where Disney missed targets for the first time since March 2011), and that’s what happened Thursday when Disney posted fourth-quarter earnings of $1.10 per share (down eight per cent from the previous year) on revenue of $13.14 billion (down 3 per cent from the previous year), below the consensus estimates of $1.16 a share on $13.52 billion in revenue.
That caused Disney stock to drop three per cent in after-hours trading, and as Jacob Primuk writes at CNBC, an ESPN downturn appears to have been a key reason why.
Media networks are Disney’s biggest source of sales, followed by parks and resorts, studio entertainment, and consumer products. Media networks revenue fell 3 percent from the prior year to $5.66 billion, while operating income dropped 8 percent to $1.7 billion. The segment’s sales were in line with Wall Street expectations, according to StreetAccount consensus estimates.
The company said it saw operating income fall for its cable networks partly due to ESPN, which “reflected lower advertising and affiliate revenue and higher programming and production costs.”
(Excerpt) Read more at awfulannouncing.com ...
Just so much good news.
They would rather go bankrupt than admit that the major cause is their non-stop radical left wing promotion.
Curt Schilling’s revenge.
How many NFL games, pre games, post games just NFL BS does ESPN carry each week?
So our boycott of the NFL might be hammering Disney.
True. It’s becoming unwatchable, too much lefty crap, too much PC, too much victimhood.
First of all, 3% is NOT a plunge . . .
Second, DIS is now UP 3% after hours.
Usually a good idea to have some market licenses before making calls like this.
Remember folks, DISNEY and ALL of it’s Executives PUBLICLY SUPPORTED HILLARY and HATE YOU and EVERYTHING YOU BELIEVE IN AND STAND FOR. They Always Have.!!
Think about that the next time you decide you want to go see a Movie or Concert, Buy a CD......
Do you really want to Enrich the very people that want you OFF THE FACE OF THE EARTH, with your HARD EARNED MONEY????
I love happy stories.
ESPN = left wing thugs.
Daily Trump-hating spew on their main page.
The left makes everything political, no place is safe to just relax and have fun without turning it into a leftist statement.
Well they can suck the fun out of everything, but they can’t force me to pay for it.
Screw ESPN, and Disney with them.
The subscribers of MSNBC are fleeing by the hundreds of thousands...huge future revenue slide
Espn just recommended that no athlete should go to a Trump Whitehouse...
ESPN + SJW = Chapter 11
Sure would love to see a true sports channel emerge.
ESPN has become literally unwatchable.
Is there a #tiredofwinning yet?
If it’s of any consolation, Bob Iger will soon be leaving Disney. Come 2018, we’ll probably have a new CEO for Disney. And if we’re lucky, said CEO will actually clean up the messes that Jeffrey Katzenberg, Michael Eisner, Bob Iger, and, yes, even John Lasseter made regarding turning a family industry into a left-wing think-tank. We may get someone like Trump to clean house at Disney and its affiliates.
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