Disney Loses Nearly $5 Billion as Pandemic Slams Theme Parks

Disney's quarterly revenue fell 42% and the company lost $4.72 billion as the majority of its businesses reeled during the pandemic

Walt Disney Co. said it lost nearly $5 billion in the quarter ended June 27, as the majority of its business reeled amid global efforts to curb the spread of the coronavirus by shutting down public spaces.

Crippled by sweeping social-distancing measures, the entertainment company swung to a loss of $4.72 billion for its fiscal third quarter, from a year-earlier profit of $1.43 billion. Total revenue fell 42% to $11.8 billion from $20.3 billion.

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