Walt Disney suffers first loss in 40 years

Walt Disney, the largest conglomerate in the US and world entertainment industry, ended the third quarter of this year with a loss of $ 710 million, Report says, citing Interfax.

The company had a $ 777 million gain from the same period last year.

Walt Disney ended the fiscal year 2020, which ran from October 2019 to September 2020, with a $ 2.832 billion loss. However, the company had a $ 10.425 billion profit in the fiscal year 2019, which lasted from October 2018 to September 2019. This is the first case in the history of the entertainment giant since 1980.