Disney blamed 'Dark Phoenix' for dragging on the company's massive box office haul. Overall, the studio reported revenues of $3.8 billion during the quarter, shy of the $4.5 billion analysts had estimated, according to Refinitiv data.
In fact, "Dark Phoenix," a film obtained by Disney during the 20th Century Fox acquisition earlier this year, was the true villain of the quarter. The film disappointed at the box office, earning a dismal $65 million in the U.S. and $186 million abroad. It cost an estimated $200 million to produce the film and that's not factoring in the marketing costs of the film.
Disney blamed "Dark Phoenix" for dragging on the company's massive box office haul. Overall, the studio reported revenue of $3.8 billion during the quarter, representing a 33% increase from the same period a year ago. However, that was shy of the $4.5 billion analysts had foreseen, according to Refinitiv data.
"Dark Phoenix" was the final chapter in Fox's X-Men film franchise and currently holds a Rotten score of 23% on Rotten Tomatoes.
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