The Walt Disney Co. moved to a loss in its second quarter, hampered by restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well.
For the period ended March 30, Disney lost $20 million, or a penny per share. That compares with a profit of $1.27 billion, or 69 cents per share, a year ago. Restructuring and impairment charges surged to $2.05 billion from $152 million in the prior-year period. Adjusted earnings were $1.21 per share, easily beating the $1.12 per share that analysts polled by Zacks Investment Research predicted. The Burbank, California, company's revenue rose to $22.08 billion from $21.
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