Disappointing earnings did not stop investors from snapping up shares of Walt Disney Co (NYSE:DIS) in after-hours trading.
The group reported net income of US$1.75bn, down 1% from a year earlier. Revenue declined 3% to US$12.8bn and the company failed to meet analysts’ expectations.
Weighing again on performance was the sports TV unit ESPN, which blamed lower advertising revenue and higher program costs.
It also saw subscriber losses.
READ Walt Disney shares nudge higher despite disappointing fourth quarter earnings
The shares were up 2.3% in screen-based trading after the company said its streaming service would significantly undercut the prices offered by Netflix..
Another big mover after-hours was computer graphic chips giant Nvidia Corporation (NASDAQ:NVDA), which has gained an extra sheen of allure since branching out into driverless car technology.
Third quarter earnings per share of US$1.33 were up some three-fifths year-on-year and were comfortably ahead of expectations of 94 cents.
Revenues rose by just under a third to US$2.64bn, versus the consensus estimate of US$2.36bn.
Media group News Corp (NASDAQ:NWSA), controlled by news-lizard Rupert Murdoch, topped expectations with its fiscal first quarter earnings.
Pre-tax profit of US$249mln in the three months to the end of September was up 92% from US$130mln in the same period of 2016.
Revenue rose 5% to US$2.06bn.
The group owns the Dow Jones organization, which publishes the Wall Street Journal.
Earnings per share of 12 cents represented a move into profit from a loss of three cents a share the year before and was ahead of the consensus forecast of a penny a share.
Profits would have been higher still were it not for provisions being made to cover the fall-out from the phone hacking scandal in the UK, where newspapers controlled by the Rupert Murdoch hacked into voice-mail accounts of numerous people in the news, including murdered schoolgirl Milly Dowler.
Nordstrom Inc (NYSE:JWN) saw its shares dip further in screen-based trade after posting disappointing third quarter results.
The company had on Thursday unveiled its third quarter numbers, which saw comparable-store sales come in below market expectations while sales fared no better.