Morgan Stanley crunches the numbers on Disney

|By:, SA News Editor

Morgan Stanley digs deep into Disney's (DIS -0.3%) projected earnings before trimming a few cents off of its FQ3 estimate, $1.13 vs. $1.16 MS prior, $1.16 Street consensus, and $1.21 on Estimize.

The investment firm sees a big boost from Frozen to profit at the Consumer Products and Studio Entertainment segments, but thinks lower deferred revenue recognition at ESPN will work in the opposite direction.

Though the lasting impact of  Frozen will be a big topic in Disney's earnings release, MS reminds that last year's quarter was nearly as robust with both Iron Man 3 and Monster University contributing.