Disney Takes $1.4 Billion Coronavirus Hit, With Worse Ahead
- Parks are pummeled especially hard, sending profit plunging
- But CEO sees recovery in China, with Shanghai resort reopening
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Walt Disney Co. investors got a taste of just how bad the coronavirus pandemic will be for the world’s largest entertainment company.
The crisis cost Disney as much as $1.4 billion in lost profit last quarter, the company said Tuesday, with $1 billion coming from shuttered theme parks alone, and nearly every part of its business taking a hit.