Disney (DIS) Shocks the Market with Early Release of Q4 Miss; Shares Down 3%

November 11, 2010 4:00 PM EST
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Price: $173.97 +0.90%

EPS Growth %: +31.7%

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Revenues: 13.14B

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Walt Disney Co. (NYSE: DIS) shares are down more than 3 percent in late market movement on Thursday after the company's fourth-quarter earnings report hit the market unexpectedly before the close.

The conglomerate reported fourth-quarter earnings of 45 cents per share excluding one-time items, a penny below the consensus of 46 cents per share.

Revenue for the company fell 1 percent to $9.74 billion in the period, missing the analyst estimate of $9.97 billion.

Revenue for the company's media networks fell 7 percent to $4.4 billion, while revenue for Disney's Parks and Resorts dipped by a percent.

Interactive media for the company saw revenue rise 20 percent from to $188 million, while sales of consumer product rose 13 percent to $730 million.

"Our fourth quarter earnings grew solidly after factoring out a programming writeoff at one of our equity networks, the timing of ESPN revenue recognition and the effect of one fewer week of operations this year than last,” said Disney president and CEO Robert A. Iger. “With the acquisition of Marvel, our brand and franchise portfolio is stronger than ever and we’re confident our global growth strategy positions the company well to thrive in the coming years.”

UPDATE: Click here to see some highlights from Disney's Q4 results.


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