August 4, 2020

Disney sees big loss as pandemic hits parks, studios; subscriptions rise

San Francisco (AFP) – The Walt Disney Company on Tuesday reported its quarterly earnings were hit hard as the pandemic emptied theme parks and cruise ships, while it hit a new milestone for streaming subscriptions.The entertainment colossus said it lost $4.7 billion on revenue that revenue of $11.8 billion  — about half of the amount of money it took in during the same period last year.”Despite the ongoing challenges of the pandemic, we’ve continued to build on the incredible success of Disney+ as we grow our global direct-to-consumer businesses,” Disney chief executive Bob Chapek said in an …


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