"Walt Disney Co (NYSE:DIS - news) on Thursday reported a lower quarterly profit, weighed down by poor performance at its movie studio.
Net income fell to $379 million or 19 cents per share in the fourth quarter, including the effect of stock options expensing, from $516 million or 25 cents per share a year ago. Revenues rose to $7.734 billion from $7.543 billion a year earlier.
Analysts, on average, had expected revenue of $7.8 billion, according to Reuters Estimates.
Chief Financial Officer Tom Staggs said in September that Disney's studio division would post a loss of up to $300 million due to a weak box office and higher marketing costs from a large slate of releases from its Miramax Film division."