Alexa

Disney 2Q profits plunge 46 percent

Disney 2Q profits plunge 46 percent

Walt Disney Co. says its second-quarter net income fell 46 percent, with sharply lower profits at its movie studio and theme parks.
The company said Tuesday its profit in the quarter through March was $613 million. That amounted to 33 cents per share. The profit was down from $1.13 billion, or 58 cents per share, a year earlier.
Revenue fell 7 percent to $8.09 billion.
Excluding restructuring charges and other items, the earnings fell to 43 cents per share, just above analyst expectations for 40 cents per share, according to Thomson Reuters. Analysts expected slightly higher revenue, $8.15 billion.