Walt Disney Co. is set to report earnings for the fiscal second quarter after the market closes on Tuesday. Here's what investors can expect: Earnings: Disney (DIS) is expected to report per-share earnings of $1.41 for the quarter, according to analysts tracked by FactSet. That would be a 4% increase from the same period a year ago, but a 9% drop compared with the sequential first quarter. The media and entertainment giant has beat FactSet's expectations in eight of the past 10 quarters. Estimize, which crowdsources estimates from sell-side and buy-side analysts, hedge-fund managers, executives, academics and others, expects Disney to report earnings of $1.46 per share. Don't miss: Disney drops first 'Star Wars: The Last Jedi' trailer (http://www.marketwatch.com/story/disney-drops-first-star-wars-the-last-jedi-trailer-2017-04-14)Check out:Disney gives release dates to live-action 'Lion King,' 'Frozen 2' and other films (http://www.marketwatch.com/story/disney-gives-release-dates-to-live-action-lion-king-frozen-2-and-other-films-2017-04-25) (https://sw.graphiq.com/w/8AHjTFi6fEF) Revenue: Analysts surveyed by FactSet expect revenue to hit $13.41 billion . That is up more than 3% from a year ago, but down more than 9% from the first quarter. Disney as beat FactSet's revenue consensus in five of its last 10 quarters. Also read:Disney still can't find a replacement for CEO Bob Iger (http://www.marketwatch.com/story/disney-still-cant-find-a-replacement-for-ceo-bob-iger-2017-03-23) Estimize expects Disney's revenue to hit $13.51 . Disney's main source of revenue is its media networks, which is expected to generate $5.99 billion during the quarter, led by cable and then broadcasting. Disney's theme parks and resorts are expected to contribute $4.27 billion to overall revenue, followed by its film division at $1.99 billion and its consumer products and interactive segment at $1.17 billion . Share price: Analysts surveyed by FactSet have an average $117.59 12-month price target, which represents a more than 5% premium to current trading levels. The average rating on the stock is overweight. Disney shares have gained 7% in the year to date and more than 5% in the prior 12-month period. By comparison, the S&P 500 index is up 7% in the year and more than 16% in the last 12 months, while the Dow Jones Industrial Average is up more than 6% in the year and more than 18% in the last 12 months. See also:It's not too late to invest in Disney's future, analysts say (http://www.marketwatch.com/story/its-not-too-late-to-invest-in-disneys-future-analysts-say-2017-03-14) (https://sw.graphiq.com/w/elkXRdY9UzP) Other issues: ESPN is still very much under the microscope. The cable sports broadcaster is undergoing a reorganization in operations and content as it continues to struggle to find its footing in the changing media landscape that has introduced factions of cord-cutters, cord-shavers and cord-nevers. Don't miss:ESPN is laying off 100 employees, including familiar on-air talent (http://www.marketwatch.com/story/espn-is-laying-off-100-employees-including-familiar-on-air-talent-2017-04-26) "The challenges facing ESPN are increasingly well understood by investors," wrote BTIG analyst Rich Greenfield in a recent blog post. "Cutting 100 on-air employees is relatively meaningless when you pay the NFL $2 billion annually for just 17 games each year." As video subscriber losses appear to be accelerating, Greenfield also wrote that the marketplace may be getting closer to launching bundles without ESPN . To help stop the bleeding, ESPN is expected to launch a direct-to-consumer over-the-top service through Disney's investment in BAMTech. The service, however, is expected to be complementary to ESPN's linear offering, streaming content that doesn't typically air on TV, like cricket and eSports. Also see:ESPN struggles won't go away, but Disney's CEO thinks he has the answer (http://www.marketwatch.com/story/espn-struggles-wont-go-away-but-disney-ceo-thinks-he-has-the-answer-2017-02-08) Analysts at Macquarie Research see that as a potential boon that also reinforces the traditional bundle, which has historically been Disney's bread and butter. "We feel eSports and underused traditional sports rights could be the key to attracting cord-nevers," lead Macquarie analyst Tim Nollen wrote in a note. "We think this is ideal content for the ancillary ESPN [over-the-top] product as the network tries to bring new households into the ESPN fold."
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