The Walt Disney Company reported slightly lower than expected revenue for its fiscal third quarter on Wednesday.
The company reported revenue of $22.3 billion compared to expectations of $22.5 billion, according to estimates from Refinitiv. Linear television was a drag on Disney's overall top line, with revenue in that area declining 7% compared to the same quarter last year.
"While there is still more to do, I'm incredibly confident in Disney's long-term trajectory because of the work we've done, the team we now have in place, and because of Disney's core foundation of creative excellence and popular brands and franchises," Disney CEO Bob Iger said in a statement.
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