Disney expects the coronavirus outbreak in China that has forced the temporary closure of Shanghai Disneyland and Hong Kong Disneyland to keep the two Asian theme parks closed for at least two months.
The temporary closure of Shanghai Disneyland and Hong Kong Disneyland due to China’s coronavirus outbreak could result in a $175 million loss in Disney’s upcoming second quarter, Disney chief financial officer Christine McCarthy said. The loss assumes the closure of both parks for two months, McCarthy said.
“The recent closure of our parks in both Shanghai and Hong Kong due to the ongoing coronavirus situation will negatively impact second quarter and full-year results,” McCarthy said during the company’s latest earnings call. “The precise magnitude of the financial impact is highly dependent on the duration of the closures and how quickly we can resume normal operations.”
Read Original Article
