Wed, 30 Sep 2020

LOS ANGELES, Aug. 4 (Xinhua) -- The Walt Disney Company on Tuesday reported significant quarterly loss in its fiscal third quarter due to the ongoing COVID-19 pandemic.

Disney's overall revenues in the three-month period ending on June 27 fell 42 percent year-over-year to 11.78 billion U.S. dollars. Earnings per share for the quarter showed a loss of 2.61 dollars compared to the income of 79 cents in the prior-year quarter, according to a release from the company.

Disney said that the company took a 3.5-billion-dollar hit to its operating income from parks being closed during the quarter, down 85 percent from a year earlier.

"The impact of COVID-19 and measures to prevent its spread are affecting our segments in a number of ways, most significantly at Parks, Experiences and Products," said the company in the release.

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