Walt Disney (DIS) Falls After Third Quarter Results

After the close, media giant Walt Disney (NYSE: DIS) reported third quarter results which showed a drop in both earnings and sales as performance across all of the company's business units was impacted by the rough economy.

Investors are reacting to the news in the after-hours session, sending the stock down 3.6% to $25.28.

Walt Disney reported Q3 EPS of $0.52, ex-items, which was down from $0.62 last year but slightly better than the analyst consensus of $0.51. Revenue for the quarter was $8.6 billion, down 7% from last year and below the consensus of $8.83 billion.

Segment performance: Media Networks revenue fell 2% and operating income fell 13%, Parks and Resorts revenue fell 9% and operating income fell 19%, Studio Entertainment revenue fell 12%, Consumer Products revenue fell 10% and operating income fell 37%, Interactive Media revenue fell 20% and operating income rose 18%.

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