Walt Disney Company Second Quarter Earnings Report

Please note: some posts may contain affiliate links which means our team could earn money if you purchase products from our site

Walt Disney Earnings

The Walt Disney Company reported earnings for its second fiscal quarter ended March 28, 2020.

The company estimates a loss of more than $1 billion as the result of Disney theme parks closing worldwide. Overall, the Walt Disney Company estimates a loss of more than $1.4 billion between all of its operating businesses. Even though most of the financial loss can be attributed to their parks and cruise line, their halted film and TV production was also a factor. The lack of live sports events and the inability to screen new movies in theaters created an additional loss of revenue and an increase in bad debt expense.

The report acknowledges the impact of COVID-19 while assuring the public about the company’s faith in the Disney brand. To summarize:

“While the COVID-19 pandemic has had an appreciable financial impact on a number of our businesses, we are confident in our ability to withstand this disruption and emerge from it in a strong position,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “Disney has repeatedly shown that it is exceptionally resilient, bolstered by the quality of our storytelling and the strong affinity consumers have for our brands, which is evident in the extraordinary response to Disney+ since its launch last November.”

To read the full report click here.

Source: Walt Disney Company


D2T-1

Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.

Get started below for your FREE No Obligation Quote.

Book With our friends at Destinations to Travel

Name(Required)
MM slash DD slash YYYY
This field is for validation purposes and should be left unchanged.

For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!


Written by:

1,977 Posts

Kevin is an Orlando, FL resident and Disney enthusiast. Other interests include movies, classic rock, sports, comedy, cooking, and enjoying outdoor activities.
View All Posts
Follow Me :