The Walt Disney Company just posted its fiscal Q2 earnings and the Parks, Experiences, and Products claiming a 10% decrease in revenue to $5.5 billion. Although the parks have been closed for several weeks, they have only closed a total of 15 days for the second quarter.
As a result of the COVID-19 pandemic, Disney closed its domestic parks and resorts, suspended further operation of their Cruise Ships, and closed Disneyland Paris in mid-March, much later than their Asia parks and resorts were initially closed. As a result, volumes were negatively impacted in the quarter. Disney estimates the total impact of COVID-19 on segment operating income in the quarter was approximately $1.0 billion.
It’s important to note that prior to the closure of our domestic parks and resorts, volumes and guest spending were higher compared to the prior-year quarter.
The call is currently happening, and we’re listening to make sure we bring you the latest information. To read the entire Q2 Earnings report, click here.
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