Despite record profits, Disney shares drop

Though The Walt Disney Co. posted record profits for its fiscal third quarter, its shares dropped due to the company missing Wall Street expectations for revenue.

Net income for the three-month period ended June 27 was $2.48 billion, an 11 percent increase. Revenue was $13.1 billion, shy of the $13.23 billion projected by industry analysts, according to Reuters.

In after-hours trading yesterday, Disney shares fell roughly 2 percent to $119.25.

Read more from Reuters.