Shares of Walt Disney fell 2.4 percent Thursday after CFO Jay Rasulo suggested that some of Wall Street’s estimates competence be too high, in vast partial since a film studio won’t perform as good in a third entertain this year compared with final year.

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“I wish to get something out of a approach that is specific about Q-3,” Rasulo pronounced during a Nomura Media Telecom Summit. The CFO afterwards launched into “compatability items” that he mentioned during Disney’s latest gain call yet that “were a small bit complicated.”

Tops on a list was a film studio, where Iron Man 3 will substantially beget $1.2 billion during a box bureau worldwide. Impressive, yet $300 million bashful of what The Avengers did a year ago.

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“Obviously, we are anxious with a outcome of Iron Man,” Rasulo said. “Normally, everybody would say, ‘that’s terrific,’ but, remember, a year ago in Q-3 … we expelled Avengers.”

Next, Rasulo pronounced that a “big portion” of a selling responsibility for Lone Ranger will start in a third entertain yet that a Jul 4 recover is a fourth-quarter film in terms of generating income for Disney.

Iron Man 3 not measuring adult to Avengers and a selling losses of Ranger have lead to $150 million reduction in handling income for a film studio in a third entertain this year compared with final year, Rasulo said. 

Also impacting Disney’s formula in a third entertain is $73 million reduction in net deferred income during ESPN due to “the covenance and timing of a opposite deals,” Rasulo explained. 

Theme parks also have $65 million value of timing issues, he said, in partial since a Easter holiday fell wholly in a third entertain final year yet that wasn’t a box this year.

Shares of Disney fell $1.61 Thursday to $64.65.