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Disney Takes $2.6 Billion Theme Park Hit Amid Pandemic

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The Walt Disney Co. on Thursday reported that it took a $2.6 billion hit this quarter due to the pandemic's impact on theme parks.

Disneyland Resort has been closed since last March. Other parks around the globe have reopened, but several have had to close and open again amid novel coronavirus case spikes in their respective countries. "Disney Parks, Experiences and Products revenues for the quarter decreased 53 percent to $3.6 billion, and segment operating results decreased $2.6 billion to a loss of $119 million.

Lower operating results for the quarter were due to decreases at both the domestic and international parks and experiences businesses," read the Disney earnings disclosure released prior to the Thursday earnings call.

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