The Walt Disney Co. lost nearly $5 billion in April, May and June, while its theme parks were shut down due to the coronavirus pandemic, according to a presentation Disney executives made Tuesday.
It cost the company $3.5 billion just to close the parks during the third quarter, on top of the $1 billion it cost to shut them down the second half of March.
In 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.
Disney’s domestic parks – Disney World and Disneyland, as well as Disneyland Paris, resorts and cruise operations were closed for the entirety of the quarter and the final two weeks of the previous quarter.
