Disney Shares Tumble After Missing Analyst Estimates

Disney's second quarter earnings report reveals a miss on both earnings per share and revenue, falling short of analyst expectations. Despite an increase in profit from the previous year, media revenue, including cable networks like ESPN, also underperformed. The market reacted negatively, with Disney shares dropping 6% in after-hours trading. While ESPN showed some resilience, lower equity income at A&E raised concerns. Overall, investor sentiment was dampened as Disney did not match the positive trends seen in other media companies.

What was the percentage drop in Disney shares during after-hours trading following the earnings report?

What concerns were raised regarding ESPN's revenue in the earnings report?