Walt Disney Co. (NYSE: DIS) reported late Tuesday that its fiscal second-quarter profit slipped 1% to $942 million, or 49 cents a share, compared with a year-ago profit of $953 million, or 48 cents a share. Revenue increased 6% to $9.08 billion from $8.58 billion. Analysts, on average, expected the company to report earnings of 56 cents per share on revenue of $9.13 billion.
"We are pleased with the underlying quality of our second quarter earnings," said Robert A. Iger, President and CEO of The Walt Disney Company. "There is great creative momentum throughout the company which gives us continued confidence in our ability to grow our businesses."
Shares of the company dropped more than 2% in Tuesday's after-hours trading.
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