Disney CEO Bog Iger warned profits This specific year would likely be similar to last year, sending shares of the media giant along with others within the industry tumbling on Wednesday.
Iger said the company will report earnings per share This specific year “roughly in line” with what Disney generated in fiscal year 2016 at the Bank of America Merrill Lynch 2017 Media, Communications & Entertainment Conference.
The company reported $5.72 in earnings per share for fiscal 2016. The current Thomson Reuters estimate for fiscal 2017 earnings per share is actually $5.88.
Disney shares declined 4.4 percent following the comments. CBS along with Twenty-First Century Fox both fell more than 2 percent respectively.
The CEO also revealed at the conference the media giant’s Marvel along with Star Wars titles will go exclusively to the brand-new Disney streaming platform, which is actually set to launch in late 2019.