What really hurt the stock is the CFO said the current quarter may not be accurately reflected in street estimates referring to headwinds. Several articles on it. Here is Bloomberg's * *www.bloomberg.com/news/2013-05-30/disney-falls-after-rasulo-tempers-expectations-for-quarter-1-.html?cmpid=yhoo *
I have to disagree with you adam. What he 'revealed' is that he, the CFO of the company, thought the street was overly optimistic in their projections for the company. That is a big deal. Not too many execs come out and say their company is being over valued. That said, I think the impact was unexpected and probably generated many phone calls. If it does not bounce in a couple of days, I would not be surprised to see Iger on CNBC doing some damage control.
About $153M decrease in Q3 Operating Income for the Studio YoY, due to various factors. That was the first thing he said. He said the analysts had gotten it wrong. Great. Those jerks don't like to be told they're wrong.