Disney misses on earnings, unveils $12.99 streaming bundle with Hulu, ESPN

(Photo: AP Photo/Richard Drew, File)NEW YORK – Disney says its net income fell 39% in the latest quarter, as underwhelming performance from its newly acquired Fox businesses offset box office successes such as “Avengers: Endgame.”Tuesday’s results missed Wall Street’s expectations, and shares fell 3% in aftermarket trading.CEO Bob Iger said one of the biggest issues affecting earnings was the Fox Studio performance.“It was well below where it had been and well below where we hoped it would be when we made the acquisition,” he said during a conference call with analysts.Particularly underperforming was “Dark Phoenix,” Disney said.Iger said it would be two years before Disney can have an impact on the Fox films in production.Bounce back: US stocks finish higher Tuesday after a tough start to the weekDisney also spent more money on its ESPN Plus and upcoming Disney Plus streaming services.