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Walt Disney Co (DIS) Stock Falls on Disappointing Guidance

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Walt Disney Co (NYSE: DIS ) stock took a massive hit Thursday as its CEO revealed that its fiscal 2017 results will disappoint.

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Bob Iger revealed today that the entertainment and media conglomerate will report annual earnings that will be below what analysts predicted in their consensus estimate. The 2017 profit figure will be in "roughly in line" with what Disney raked in in fiscal 2016, which came in at around $5.72 per share.

Meanwhile, Wall Street predicted that earnings would amount to $5.89 per share for the year. Disney has been making moves recently to breathe new life into some of its classic franchises recently, but not everyone's happy about the company's initiatives.

One of the most beloved 1990s movie from the entertainment giant came in the form of Aladdin , and many millennials were happy to hear that the company would be bringing the story back in a new adaptation of the classic. On Tuesday, it was revealed that actor Billy Magnussen will play a character who was not in the original version of the film .

Some fans are up in arms over the move as they expect the new Aladdin to stay true to the main details of the story, and adding a new character contradicts this goal. It was also revealed that Marwan Kenzari will play Jafar, Naomi Scott has been casted as Princess Jasmine and the popular Genie role will be tackled by Will Smith.

DIS shares plummeted 4.7% Thursday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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