Walt Disney Company Reports $7 Billion Loss in 2020 Due to COVID-19

By  //  November 12, 2020

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Park revenue for the fourth quarter decreased 61%

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ORLANDO, FLORIDA (WFTV) – The Walt Disney Company said it lost more than $7 billion this year due to the coronavirus pandemic.

The loss, while not a huge surprise, means recovery is still a long way off.

Disney Parks, Experiences and Products saw about a $2.4 billion impact due to COVID-19 during its fourth quarter, the company announced during its earnings report Thursday.

Park revenue for the fourth quarter decreased 61%, to about $2.6 billion compared to the last fiscal year, Disney said. Segment operating results also decreased $2.5 billion, to a loss of $1.1 billion.

The total net adverse impact of COVID-19 on segment operating income for the fourth quarter was expected to be about $2.4 billion, Disney said.

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