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.
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