Disney's earnings plummet amid coronavirus pandemic

A sign saying Disney parks in Anaheim, California, are closed.
(Image credit: Rich Fury/Getty Images)

The Walt Disney Co. on Tuesday shared with investors that over its second quarter, the coronavirus pandemic cost the company $1.4 billion in operating income.

While revenue rose 21 percent to $18 billion, overall operating income dropped 37 percent to $2.4 billion, The Wall Street Journal reports. Because of the pandemic, Disney had to shutter its theme parks and stop production on its television and film projects in March, during the end of the second quarter.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.