Marketwatch: Disney earnings plummet more than 90% as coronavirus wipes out more than $1 billion
Walt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the company from the COVID-19 pandemic, which executives said cost the media giant more than $1 billion in profit just in its theme-parks division.
The new Disney CEO Bob Chapek said, “While the COVID-19 pandemic has had an appreciable financial impact on a number of our businesses, we are confident in our ability to withstand this disruption and emerge from it in a strong position.”
DISNEY EARNINGS:
– EPS Misses $0.60 Adj. vs. $0.89 Est.
– Revs. Beat $18.01B vs. $17.80B Est.$DIS pic.twitter.com/Pf1v1sGDBI— CNBC's Closing Bell (@CNBCClosingBell) May 5, 2020
