Home BUSINESS Disney Takes $1.4 Billion Hit to Earnings as Coronavirus Takes Hold

Disney Takes $1.4 Billion Hit to Earnings as Coronavirus Takes Hold

Disney Takes $1.4 Billion Hit to Earnings as Coronavirus Takes Hold


The empire Robert Iger built at Walt Disney Co. ruled Hollywood last year, with box-office blockbusters, capacity crowds at theme parks and new streaming service with subscribers in the millions.

This year brings an unwelcome twist. The world’s largest entertainment company said Tuesday the coronavirus pandemic took a $1.4 billion bite out of its earnings, with more to come as executives detailed how the global economic fallout would affect every part of its business for the foreseeable future.