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Walt Disney misses expectations

Walt Disney standing with Mickey Mouse outside Cinderella Castle at Disneyland

Walt Disney has dominated the international media market for most of its near 100-years. Apart from a blip in the early 2000s – one that has been rectified by a series of excellent acquisitions – growth and quality have appeared in bucket loads. This is the ultimate guide to updates from this excellent company.


Walt Disney's (US: DIS) earnings were always expected to fall in the three months to June 2019. Chief executive Bob Iger says the numbers "reflect our efforts to effectively integrate the 21st Century Fox", which was acquired in March. Still, the market was disappointed by earnings per share of $1.35 - a long way below the $1.75 expectations set by analysts for the usually very reliable entertainment giant and Mr Iger said the Fox integration would continue to impact profits for the remainder of the year. 

There were other operational disappointments in these numbers. Dark Phoenix - which the group inherited from Fox - was a flop at the box office, while the new Star Wars land reportedly didn't reel in as many crowds as the company had hoped (although average ticket prices were substantially higher). 

These disappointments come in the context of a 30% share price rise in 2019 so far, including the 5% after hours fall following the release of results. Disney's…

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