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Saturday, Mar 2, 2024

Disney’s Stock Slips

Shares in Walt Disney Co. fell by more than $4 on Wednesday, the day after the company missed Wall Street forecasts on earnings. The Burbank entertainment and media company closed down $4.31, or just more than 4 percent, to $102.29 on the New York Stock Exchange. That is the second-biggest drop for Disney this year. On Jan. 14, the share price went down by $5.21. Wednesday’s decrease followed the company reporting adjusted net income of $1.36 a share in the quarter ended April 2. Analysts on average expected income of $1.40 cents a share, according to Thomson Financial Network Disney’s net income was $2.13 billion ($1.30 cents a share), compared with net income of $2.11 billion ($1.23 cents) in the same period a year earlier. Revenue increased 4 percent to $13 billion. Analysts were looking for revenue of $13.2 billion.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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