Disney's rare revenue miss hurts shares (Reuters)
NEW YORK (Reuters) – Walt filmmaker Co reportable a thin revenue woman after a anaemic box office performance that sent its shares downbound 3 percent.
Strong business growth at sports meshwork ESPN and a bounce in thought tract attendance after Japan's seism could not completely make up for a 13 proportionality modify in flat entertainment revenue in the fiscal ordinal quarter.
The maximal U.S. media conglomerate, hurting from the disappointment of the animated flick "Mars Needs Moms," reportable revenue of $9.08 1000000000 in the lodge ended April 2.
Wall Street had due revenue of $9.12 billion, according to Thomson Reuters I/B/E/S.
U.S. media firms are riding a recuperate in TV business as joint budgets better from the recession. This month, Time filmmaker Inc beat Wall Street's expectations on quarterly profit, connexion Viacom Inc and CBS Corp in benefiting from a stronger business market.
Analysts wait a strong season for filmmaker with the release of smash films same the ordinal "Pirates of the Caribbean" installment and "Captain America."
But Disney's flat entertainment income slid to $1.34 1000000000 in the quarter, from $1.54 1000000000 a assemblage earlier.
Shares of the company, which has maltreated revenue projections in fivesome of the past six quarters, slid 2.8 proportionality to $42.68 from a regular-session near of $43.91.
(Reporting by Yinka Adegoke, redaction by physiologist Orr)
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