The Walt Disney Co. shares were down more than 2% in after-hours trade, after the company reported lighter-than-expected third-quarter revenues. Disney reported revenues of $13.1 billion, an increase of 5% from $12.5 billion in the year prior period. FactSet consensus on revenue was $13.2 billion. The company said it had a net profit of $2.5 billion, or $1.45 per share., up 13% from $2.2 billion, or $1.28 per-share earnings in the same period a year ago, beating the FactSet consensus of $1.41 per share. Disney’s studio entertainment arm saw a 13% jump in revenues over the prior year period, reporting $2 billion in revenue during the third quarter. The company highlighted the performance of Marvel’s “Avengers: Age of Ultron” and “Cinderella” as drivers.
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