Walt Disney: Star Wars Not Enough as Falling Media Profit Drags Down Shares

Walt Disney ( DIS ) had no trouble beating earnings and revenue forecasts but concerns about ESPN have dragged down its shares in after-hours traders. Disney reported a profit of $1.63 a share, beating forecasts for $1.46, on sales of $ 15.2 billion, topping estimates for $14.8 billion. But Media Networks, the unit which contains both ESPN and ABC, saw profits fall 6%, raising concerns about continued cord cutting among cable viewers. S&P Global Market Intelligence's Tuna Amobi offers his take: