DISNEY REPORTS FIRST LOSS IN 19 YEARS

The Disney Co. lost $4.72 billion in the three months ending 27 June, its first losing quarter since 2001.

Its theme parks were closed, movie releases delayed, and sporting events that dotted its television broadcast schedule were canceled.

A year earlier, the company had posted $1.43 billion in profits.

Revenues fell 42 percent to $11.8 billion for the period, down from $20.3 billion a year previous.

The company estimates that the global economic shutdown cost its theme parks about $3.5 billion.

TRENDPOST: Despite Disney’s dismal numbers and a dismal future, due to its streaming service having gained 60 million viewers in nine months and the pending September release of its long-delayed “Mulan” blockbuster, Disney’s share price rose 5 percent after the earnings figures were announced.