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November 13, 2020

Disney posts loss as parks remain closed

BURBANK, Calif. (AP) — Walt Disney Co. reported fiscal fourth-quarter loss on Thursday thanks largely to changes related to the COVID-19 pandemic. Its earnings were dragged by costs from restructuring related to its streaming services and lost revenue from its California theme parks, which remain closed amid surging coronavirus cases in the U.S.

But its results weren't as bad as feared and the company's shares advanced after hours.


 
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