Walt Disney Profit Rises, But Misses Street; Stock Down 6%

(RTTNews) - Media and entertainment giant The Walt Disney Co. (DIS), Tuesday reported an increase in profit for the second quarter, driven by a strong performance of animation movie "Zootopia" and the continued contribution of "Star Wars: The Force Awakens."

Nevertheless, both earnings and revenues of Disney fell short of Wall Street estimates, sending its shares down by six percent in the extended trading session.

Burbank, California-based Disney's second-quarter profit rose to $2.14 billion or $1.30 per share from $2.11 billion or $1.23 per share last year.

Adjusted earnings for the quarter were $1.36 per share. Analysts polled by Thomson Reuters estimated earnings of $1.40 per share.

Revenues for the quarter grew 4.1 percent to $12.97 billion from $12.46 billion last year. Analysts had a consensus revenue estimate of $13.19 billion.

Disney has enjoyed a strong box office success this year with "Zootopia," which has raked in about $328 million in the U.S and around $958 million globally until now. "The Jungle Book" has generated about $289 million domestically and another $495 million in international box office. Meanwhile, "Captain America: Civil War," which opened last weekend in the U.S., has made about $705 million globally in less than two weeks.

The success of these films follows the strength of "Star Wars: The Force Awakens," which grossed over $2 billion globally and was the top-grossing film of last year.

Media networks segment's revenues were flat at $5.79 billion, while parks and resorts units climbed 4 percent to $3.93 billion. Studio entertainment revenues jumped 22 percent to $2.06 billion and consumer products & interactive media division revenues declined 2 percent to $1.19 billion.

DIS closed Tuesday's trading at $106.60, up $1.26 or 1.20% on the NYSE. The stock, however, dropped $6.55 or 6.14% in the after-hours trade.