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Patrick Hipes
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Patrick Hipes
city Anaheim
city Orlando
Disney Theme Park Unit Lost $1B in Q2 Due To Coronavirus Shutdown
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deadline.com
deadline.comBy Patrick Hipes Executive Managing Editor Disney said Tuesday that the estimated COVID-19 impact on the company’s second-quarter operating income at its Parks, Experiences and Products segment was about $1 billion, “primarily due to revenue lost as a result of the closures” of its Disneyland in Anaheim and Walt Disney World Resort in Orlando.
The company said the overall financial impact of the coronavirus shutdown on Q2 income from continuing operations before income taxes was as much as $1.4 billion.
Overall, Disney’s total revenue in the quarter was $18 billion, edging Wall Street estimates, but adjusted earnings per share fell far short of the bar due to the COVID-19 crisis.
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