Disney Earnings Beat Expectations

Disney Earnings Beat ExpectationsThe quarterly revenue of Walt Disney Co fell short of Wall Street‘s expectations but profit grew at a faster-than-expected 12 percent clip as media networks and theme parks were able to hold strong in an uncertain economy. After trading hours, Disney shares fell 1.8 percent to $40.28.

The results came a day after news broke that ABC television unit of Disney was having words with Spanish-language broadcaster Univision UVN.UL about creating a 24-hour English-language news channel to be focused at the growing Hispanic market in the United States.

Disney CEO Bob Iger said the company “has an interest in seeing that ABC News continues to flourish, and giving it an opportunity to look for and create some growth opportunities on its own.”

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