Disney faults ‘Stuber’ and ‘X-Men: Dark Phoenix’ for earnings miss

Disney faults ‘Stuber’ and ‘X-Men: Dark Phoenix’ for earnings miss
Published: 8 August 2019 - 6:14 a.m.
By: Nikhil Pereira

The Walt Disney Company announced its earnings after the close of the stock market on Tuesday, missing estimates.

Revenue was up a very healthy 33%, but investors expected it to generate $21.47bn in the quarter, and it only made $20.25bn.

CEO Bob Iger blamed Stuber and X-Men: Dark Phoenix.

Iger’s stated on the earnings call for investors by noting that Disney had generated a record $8 billion in 2019 global box office.

The future is looking positive with movies such as Maleficient: Mistress of Evil, Frozen 2, and the new Star Wars: The Rise of Skywalker still to come in the next five months of the year.

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