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Disney says ESPN contributed to 23% drop in cable operating income

The Walt Disney Company said Tuesday that issues at ESPN impacted operating income for its cable business.

The segment saw operating income decline 23 percent year over year amid trouble at ESPN, Disney said in a statement. The sports network was plagued by higher programming costs and lower advertising revenue, as well as severance and contract termination costs.

CEO Bob Iger has repeatedly defended the business, previously telling CNBC that the company is "confident in ESPN's future" and believes "live sports is still a huge driver of consumption."

The broader media and networks segment also reported operating income that missed Wall Street projections.

Here's what Disney reported as operating income for each segment, compared with analysts' expectations, according to StreetAccount consensus...


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