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Disney Misses Q3 Earnings Estimates, Sending Stock Lower After Hours – Update

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UPDATED with more executive commentary

reported third-quarter results significantly short of Wall Street analysts’ estimates on Tuesday, sending shares in the media giant sharply lower in after-hours trading.

Shares in Disney declined 4% in after-hours trading. They had finished the regular session at $141.95, up nearly 3% for the day. Disney stock has risen nearly 31% in 2019 to date as the company has delivered strong results and also convincingly positioned itself as a legitimate streaming rival to Netflix. In addition to Disney+, which will launch November 12, the company struck a deal with Comcast in May to take operational control of Hulu.

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If Disney missed expectations earnings having their best ever year at global BO will be interesting to see how analysts react next year without Star Wars Pixar sequels major reimaginations or major MCU films and much tougher competition from rival studios

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