Disney's theme park and cruise line division lost almost $2 billion last quarter, with revenue falling 85% year-over-year.
Disney held its quarterly earnings report today, and unsurprisingly the news was grim for its theme parks. The Parks, Experiences and Products division saw an 85% drop from the same quarter last year, with revenues of just under $1 billion this quarter compared to $6.5 billion a year ago, and an operating loss of just under $2 billion. That’s $3.5 billion less than the division reported as income from the same quarter a year ago.
Universal just scrapped its plans for a third park in Orlando due to its parks division’s massive drop in revenue in the second quarter
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