07-02-2017 22:33 via news.yahoo.com

Disney revenue unexpectedly drops as ESPN, studio business weighs

(Reuters) - Walt Disney Co's reported lower-than-expected quarterly revenue, hurt by a drop in advertising revenue at ESPN and an unfavorable comparison in the movie business due to the record success of "Star Wars: The Force Awakens" a year earlier. The unexpected drop in revenue overshadowed Disney's profit beating Wall Street expectations and sent the company's shares down 2.2 percent to $106.61 after the bell on Tuesday. The company's total revenue decreased to $14.78 billion in the first qu
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