Walt Disney (DIS) Slumps After Soft Q4 Results

Shares of leading media company Walt Disney (NYSE: DIS) is down nearly 6% in after-hours action after reporting disappointing fourth quarter results, showing that the "Mouse House" is not immune to the difficult economic environment.

Walt Disney reported Q4 EPS of $0.43, ex-items, 6 cents lower than the analyst estimate of $0.49. Revenue for the quarter was $9.45 million, versus the consensus of $9.34 billion.

Disney's Studio Entertainment segment preformed the worst, with revenues dropping 2% on the year and 5% on the quarter. Operating income dropped 9% on the year and 42% on the quarter for the unit.

On the conference call, Disney's CEO Robert Iger said theme-park bookings have slowed meaningfully, advertising sales are softening. On the bright side, Iger said the company is better prepared to manage a recession than it was in 2001.

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