Walt Disney Co (NYSE:DIS) shares are trading lower on Monday. Reports indicate sales from the opening weekend of “Avatar: The Way of Water” came in below box office expectations.
What Happened: The Avatar sequel pulled in $134 million at the domestic box office during its opening weekend. Industry analysts were anticipating opening weekend sales closer to $175 million and Disney had provided estimates ranging from $135 million to $150 million, per CNBC.
Internationally, the film brought in $300.5 million, bringing Avatar’s total opening weekend haul up to more than $430 million.
One analyst noted that it’s premature to try to determine the film’s success based on the opening weekend alone.
“Although the film is opening on the low end of expectations, it’s important to again emphasize the long-term outlook,” said Shawn Robbins, chief media analyst at BoxOffice.com.
“Audiences are showing a strong preference to see the film in premium formats, factoring into the volatility noted in pre-release forecasts.”
The original “Avatar” film generated $760 million in the U.S. and Canada and more than $2 billion internationally during its time in theaters in 2009 and 2010.
See Also: A Congress Member Sold Up To $100K In Walt Disney Stock: Here’s What You Need To Know
DIS Price Action: Disney has a 52-week high of $160.32 and a 52-week low of $86.28.
The stock was down 2.66% at $87.69 at time of publication, according to Benzinga Pro.
Photo: courtesy of Disney.
