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Disney misses Street 4Q forecasts

BURBANK, Calif. – BURBANK, Calif. (AP) _ The Walt Disney Co. (DIS) on Thursday reported fiscal fourth-quarter profit of $1.77 billion.

On a per-share basis, the Burbank, California-based company said it had profit of $1.10.

The results did not meet Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The entertainment company posted revenue of $13.14 billion in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $13.47 billion.

Disney shares have dropped roughly 10 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 6 per cent. In the final minutes of trading on Thursday, shares hit $94.96, a decrease of 19 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DIS at https://www.zacks.com/ap/DIS

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Keywords: Walt Disney, Earnings Report, Priority Earnings