By Dade Hayes Finance Editor Disney managed to muscle out a fiscal second quarter with total revenue of $18 billion edging Wall Street estimates, but adjusted earnings per share fell far short of the bar, showing the toll of COVID-19.
Adjusting for items, earnings came in at 60 cents a share. Analysts had been expecting 88 cents a share and revenue of $17.81 billion, according to Refinitiv.
Disney has been among the hardest-hit entertainment companies during the pandemic. Its lucrative theme parks, cruise lines and hotels all shut down, theatrical movie releases from its industry-leading studio have been halted and its sports powerhouse ESPN has been unable to broadcast any games.
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