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Actionable news in DIS: THE WALT DISNEY COMPANY,

Keep Disney or Dump It for Electronic Arts and Hasbro By Tony Owusu | May 11, 2016 | 01:45 PM EDT

The market is taking Disney (DIS - Get Report) to task following its first quarterly earnings miss in five years.

Concerns about the broadcast media division continue to dog the company, as cable network revenue fell 2% to $4 billion in the period. The company's media networks accounted for 44% of Disney's revenue in 2015, making it far and away its largest business segment.

The media segment's struggles have been discussed at length for months and its results were not surprising. However, faltering consumer products and themepark revenue did take the market by surprise. Consumer products and interactive media revenue fell 2% year over year to $1.2 billion, but according to analysts at Bernstein, outsized earnings expectations were more of a problem in the quarter than core business fundamentals.

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"Consumer products was the main source of pain when compared to expectations. We believe this was bad forecasting, not a business problem. But the end result is the same," Bernstein Senior Analyst Todd Juenger wrote today. "Basically, we see no signs that the businesses are operating poorly, or are facing new or heightened threats. Forecasts were just over-exuberant, especially on consumer products, and need to come down."

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