Disney profit sinks amid shuttered parks, movies and sports
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.