Disney (NYSE: DIS) investors were wishing for a better performance early Tuesday. The entertainment giant's stock trailed the market by a wide margin, falling 10% through early morning trading compared to a modest increase in the S&P 500. That decline wasn't enough to erase all its 2024 gains, though, as the stock remains higher by 16% year to date.

Tuesday's drop was sparked by Disney's fiscal Q2 update that wasn't well received on Wall Street.

The big-picture results were solid. Disney reported modestly higher sales as revenue ticked up to $22.1 billion from $21.8 billion a year ago. That's a bit below the $22.14 billion that most Wall Street analysts were expecting from the business. Yet, Disney still managed to offset its shrinking TV broadcasting unit with strong growth at its theme parks division and across its digital entertainment empire.

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Source Fool.com