Despite Multiple Coronavirus Headwinds, Here's How Disney Can Still Be Profitable
It's a tough time for Walt Disney (NYSE: DIS).
The world's largest entertainment company has been forced to shut its six theme parks around the world and its cruise line as the coronavirus pandemic deals a devastating blow to its parks and resorts business. Not only that, but movie theaters are losing audience members, as some studios have even delayed releases until the fall. Disney has also put the production of some new movies on hold for now. In sports, ESPN, the crown jewel of Disney's cable empire, will lose valuable programming, as the NBA has suspended its season indefinitely, the NCAA March Madness tournament has been canceled, and the start of the baseball season has been delayed by two weeks, among other cancellations in the sports world.
Disney has promised to continue paying employees as the parks go dark, but it will no doubt take a financial hit from the pandemic. However, the company is more stable than you may think, and it has other ways of making money besides its theme parks, resorts, and box office releases.
Source Fool.com
