Disney estimates losses to be 'as much as $1.4 billion' as the coronavirus pandemic leaves the company’s theme parks, resorts and cruise ships shuttered.
In its quarterly earnings call with investors on Tuesday afternoon, home-bound Disney executives offered sobering assessments of the impact of the coronavirus outbreak on the multinational entertainment company's businesses. With closures of its theme parks, resorts and cruise ships, a shuttered movie business and declining television ad revenue, the company estimates losses to be,"as much as $1.4 billion" in the second quarter of 2020.
As the nation's largest media conglomerate, Disney's brands include Pixar, Marvel, Star Wars, as well as 21st Century Fox, ABC and ESPN. Disney also controls Hulu and launched its new streaming service, Disney+, last November. During the call, Disney CFO Christine McCarthy announced the Board's decision to forgo paying a cash dividend for the first half of fiscal 2020, saving the company about $1.6 billion in cash."It makes sense," says Hodulik. Since Disney furloughed more than 100,000 employees,"there's no reason why the shareholders shouldn't have to share in some of the pain," he says.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Disney theme parks take a $1-billion hit amid coronavirus closuresWalt Disney Co. reported earnings for the first time since its U.S. parks closed amid the coronavirus crisis.
続きを読む »
Disney Stock Downgraded as Analyst Warns of 'Unrivaled Earnings Risk' Due to PandemicMoffettNathanson analyst Michael Nathanson downgraded his rating on Walt Disney's stock to 'neutral' due to the novel coronavirus pandemic, writing: 'The economic impact on the company will be longer than most anticipate.' Details:
続きを読む »
Which 'Twilight' Character, Hogwarts House, And Disney Princess Are You A Combo Of?This one will definitely confuse the sorting hat.
続きを読む »
Shanghai Disneyland To Reopen May 11, Disney Says, But Other Parks Remain In LimboUPDATED with more details: Disney CEO Bob Chapek said Tuesday during the company’s second-quarter earnings call that it plans to open its Shanghai Disneyland theme park on May 11. It was the …
続きを読む »
Disney CEO Bob Chapek Promises COVID-19 Furlough Employees Will Be “Back To Work” EventuallyFacing the crushing consequences of the coronavirus pandemic, the Walt Disney Company couldn’t sugarcoat the decline bottom line in its second-quarter earnings today, but newly minted CEO Bob Chape…
続きを読む »