Disney Earnings Disappoint Despite Hefty Studio Performance

Disney shares were falling more than 4 percent after the closing bell on Tuesday after the entertainment giant's quarterly earnings fell short of expectations.

The company's studio entertainment revenue showed impressive revenue gain, up 33 percent to $3.8 billion due toIger noted that Disney has already set an annual box-office record with five months remaining and releases such asstill to come this year. The film studio is "the envy of the industry," he said Tuesday.

Disney's direct-to-consumer segment showed a $553 million loss, up from $168 million in the same quarter last year, as it gets ready to launch Disney+ in November. That product, expected to heavily feature Marvel, Pixar and Star Wars content, will compete with Netflix, Amazon Prime Video, CBS All Access and other streamers.

Also on Tuesday, Disney said it will bundle Disney+, ESPN+ and Hulu's basic tier for $12.99 monthly, while it had previously disclosed that Disney+ alone will cost $.6.99 per month.

lol capitalism is so hilariously broken

That's what happens when you buy your own tickets...

This is the problem with wealth. It’s never enough.

When a record $8bn in revenue whilst obliterating every other movie studio in the industry is considered a disappointment, I think we have a problem.

lol

Investor driven profits is what's going to tank the entire entertainment industry. If its not growing at a certain rate than, to them it's not profitable and not worth it.

Disney: “We’re number 1!” Investors: “Sorry, but you’re not number 1 ENOUGH for us.” 🤦‍♂️

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