Disney profit sinks amid shuttered parks, movies and sports

Disney profit sinks amid shuttered parks, movies and sports

4 years ago
Anonymous $pSba0tWIcA

https://apnews.com/5985433dad2e930a86628889844d7611

NEW YORK (AP) — The House of Mouse is struggling amid the coronavirus pandemic. Disney reported a steep decline in profit as many segments of its media and entertainment offerings ground to a standstill.

Its second quarter profit dropped 91% to $475 million, down from $5.4 billion a year earlier. Overall, the company said costs related to COVID-19 cut Disney’s pretax profit by $1.4 billion.