Editor-in-Chief, Legal, Labor & Politics
Disney Earnings Are a Disaster! Stocks Drop as CEO Reveals Parks Are in Trouble!
This morning's third-quarter earnings report showed that Disney's combined streaming services are finally turning a profit, but the Mouse House's legal fees are still quite high.
To be precise, $65 million is expensive.
“In the current quarter, the Company recorded a $65 million charge related to a legal judgment,” Disney said in its just-released Q3 earnings statement. “In the prior year quarter, the Company recorded a $101 million charge related to a legal judgment, largely offset by a $90 million gain on its investment in DraftKings, Inc. (DraftKings Gain), which it sold in the prior year quarter,” Disney further explained.
