Brent Lang Entertainment Covid-19 pandemic reports Company Brent Lang

Disney Quarterly Losses Mount, Even as Company Beats Expectations

Reading now: 769
variety.com

Brent Lang Executive Editor of Film and MediaRevenues plunged and profits evaporated at the Walt Disney Company during its most recent quarterly earnings, as family entertainment giant continued to grapple with a pandemic that has destabilized the pillars of its business.Disney’s revenues fell 23% to $14.7 billion, while the company reported a loss of $710 million instead of the $777 million in profits it recorded in the year-ago period.

That translated to a loss of 20 cents per share compared to the 1.07 in earnings per share that the company reported in the same quarter in 2019.

Not that anyone is shocked by the red ink. From live events to theme parks to theatrical movies, there’s barely a corner of the Magic Kingdom that has not been.

Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA