The Traderszone Network

Published in TZ Latest News 4 August, 2015 by The TZ Newswire Staff

Disney shares drop after company lowers cable outlook

The media company now expects annual operating income growth at the unit in the mid-single digits for fiscal years 2013 to 2016, Chief Financial Officer Christine McCarthy said on a conference call. The company cut its forecast because it expects lower revenue from a decline in subscribers and the impact of foreign exchange rates, McCarthy said. Sports network ESPN has experienced “modest” subscriber losses as viewing habits have shifted to digital platforms, Disney Chief Executive Officer Bob Iger said.