Although sales for the quarter were up 21% to $18 billion, Disney's profit took an enormous hit from the closure of its parks as well as mammoth costs associated with getting the Disney+ streaming service off the ground.
The company's parks and experiences unit was hit particularly hard by the outbreak. That segment's operating income dropped a staggering 58% compared to last year — a result of Disney (DIS) shuttering its theme parks and resorts around the world.
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May 06, 2020 at 03:34AM
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Disney's profit plunged 91% last quarter as its parks closed their doors - CNN
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