Walt Disney (DIS) is down 3% after hours, following a disappointing earnings report.
Disney said operating income at its cable networks fell $15 million, to $1.2 billion in the quarter, while its broadcasting segment saw operating income slide $42 million, to $229 million. Studio entertainment’s operating income decreased $163 million, to $218 million. Its parks and resorts, however, logged a rise in sales, up 6% to $4.7 billion, and its operating income increased 7%, to $746 million.
The shares are down 3% t0 $99.60 in after hours trading, and Disney has fallen 1.5% year to date.
Of course, if you had listened to my talented colleague Ben Levisohn, you would have dumped Disney back at the start of the year, and missed the pain.