Disney Q2 revenue drops on continued weakness in parks

NEW YORK (AP) — Disney second-quarter revenue dropped as the pandemic continued to weigh on its parks and theme parks. But net income beat expectations and CEO Bob Chapek said signs of recovery can be seen across the companies’ business as the pandemic begins to wane. Net income attributable to Disney for the three months ended April 3 totaled $901 million, or 49 cents per share. Excluding one-time items, net income totaled 79 cents per share. That beat analyst expectations of 26 cents per share, according to FactSet. Revenue dropped 13 percent to $15.61 billion, from $18.03 billion last year. That was short of analyst expectations of $15.86 billion.