It cost the company $3.5 billion just to close the theme parks during the third quarter, on top of the $1 billion it cost to shut them down the second half of March.
The Walt Disney Company lost nearly $5 billion April, May and June, while its theme parks were shut down due to the coronavirus pandemic, according to a presentation Disney executives made Tuesday.$1 billion it cost to shut them down the second half of MarchIn all, the company posted a loss of nearly $5 billion for the third quarter, including a $2 billion loss in its parks, experiences and products segment.
The company's parks, experiences and products segment revenue declined 85% to $1 billion compared with the same quarter in 2019. Operating income fell $3.7 billion to a loss of $2 billion.
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