Disney Shares Fall 8% After Q4 Revenue Miss

(RTTNews) - The Walt Disney Company (DIS) shares dropped 8.26 percent to $107.01 after the media and entertainment company's fourth-quarter revenue fell short of market expectations.

From $460 million, or $0.25 per share, a year earlier, net income increased to $1.31 billion, or $0.73 per share. Nevertheless, overall revenue fell 0.5 percent from $22.57 billion to $22.46 billion, falling short of the projected $22.78 billion.

The volume of the stock, which started at $108.89 and fluctuated between $104.91 and $109.36, peaked at 24.2 million shares, which is higher than the average of 7.9 million, on the New York Stock Exchange. Disney's stock has fluctuated between $80.10 and $124.69 over the last 52 weeks.