Disney profit misses on higher investments, shares fall 5%

Disney Is Rebooting Home Alone And Night At The Museum

Iger also announced Tuesday that a new bundle that includes ESPN+, Disney+ and Hulu for $12.99 per month will also be available to subscribers in November.

Disney just showed off why it pays to have practically everything people want to watch under one corporate roof. Net income was also down 51% in the quarter, a result of ongoing investments in streaming.

Diluted earnings per share were down 59% from last year's 3rd quarter, from $1.95 to $0.79. Disney+ on its own will cost $6.99 (roughly Rs. 500) when it starts streaming on November 12 with a slate of new and classic TV shows and movies.

Disney's direct-to-consumer business, which competes with platforms such as Netflix and Amazon, grew 366% compared to the same period in the prior year. The service is expected to cost $US6.99 per month and will include content from Disney's $US71 billion acquisition of Fox.

Shares of the Dow component, which has gained over 28% so far this year, fell to $135 in extended trading. As we recently reported, Disney was already planning to create some synergy by allowing for Disney+ to be an add-on service through Hulu.

Executives told analysts on a conference call that Fox's film studio performed worse than expected while sports rights costs at Fox's Star India were higher than anticipated.

10 killed including gunman in Dayton mass shooting, hours after Texas massacre
"The shooter was able to kill nine people and injure 26 in less than a minute", Whaley said during a news conference Sunday. We'll no doubt be receiving updates throughout the day, but this attack seems to fall into a pattern with others we've seen.

Iger made clear that this will not be happening on his watch, which in theory is good news for investors but bad news for people who want to be surprised at the movies.

Disney merely says it hopes the remake will have the "same standards and the same creative discipline" as the original.

Christine McCarthy, Disney's chief financial officer, acknowledged on a call Tuesday that fewer annual pass holders visited the company's California resort.

"We're all confident that we're going to be able to turn around the fortunes of Fox live action and you'll see those results in a couple of years", he said.

The theme-parks division saw revenue increase 7% and operating income increase 4%. Walt Disney World customers, she said, were waiting to visit the Florida park until the new Star Wars attraction opens.

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