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Disney earnings plummet more than 90% as coronavirus wipes out more than $1 billion

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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.

“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,” said Bob Chapek, who took over as chief executive of Disney from Robert Iger during the quarter. The one relief valve is expected to be Disney’s newest offering, streaming services, which centers on the Disney+ and Hulu offerings. Disney+ launched in November and passed 50 million paying subscribers in April — a stronger-than-expected start even for a service that provoked high expectations — but still has doubters.

 

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Stock market is figuratively dead

Lol ... and stock is up Disney

Made in Wuhan! This is CCP idea. Like fake Chinese Covid19 tests wear them at your peril Nike

58% drop in Sales & their stock hasn’t even budged.

I'm not worried, Disney will be ok.

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Disney is set to report earnings after the bell as the pandemic has disrupted its theme parks and cruise businessesThis is the first earnings report with Bob Chapek at the helm of Disney, after former CEO Bob Iger transitioned to executive chairman. Good! The 800 Godzilla dollaz from cartoons n shit wasn't enuff so they raised their prices. Fck em. Disney the pedophile ring!
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