Disney theme parks take $3.5 billion hit due to coronavirus


Disney said Tuesday afternoon that its theme parks division took a $3.5 billion hit due to the coronavirus pandemic.

Disney Parks reported an 85% decline in revenue this quarter compared to last year, and the company said it believes the total negative impact of COVID-19 on parks this quarter is $3.5 billion.

Overall sales for the company fell 42% to $11.8 billion.

Disney did report positive returns on its new streaming service, Disney+, which had nearly 60 million subscribers at the end of June, according to the company.

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