Disney's revenue fell more than expected in its latest quarter as the new Star Wars movie, Rogue One, failed to live up to to the blockbuster performance of The Force Awakens. The media and entertainment giant said profits tumbled 14% to $2.48 billion, or $1.55 per share, in the fiscal first quarter. Disney's studio entertainment division, which has been a bright spot in recent quarters, saw revenues decline 7% to $2.5 billion. Revenue from ESPN and Disney's other cable networks also slid 2% to $6.2 billion. Parks and resorts revenue climbed 6% to $4.5 billion, thanks to growth at its theme parks in the U.S. and abroad.

Source: Forbes February 07, 2017 21:50 UTC