BURBANK, Calif. (AP) — BURBANK, Calif. (AP) — The Walt Disney Co. (DIS) on Tuesday reported a loss of $20 million in its fiscal second quarter.
The Burbank, California-based company said it had a loss of 1 cent per share. Earnings, adjusted for restructuring costs and amortization costs, came to $1.21 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The entertainment company posted revenue of $22.08 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $22.13 billion.
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