The Walt Disney Company announces first annual financial loss in more than 40 years

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For the first time in more than forty years, Disney reported an annual net loss.

Disney on Thursday announced tax losses of $ 710 million, or 39 cents per share, in the fourth quarter, its second consecutive quarterly loss on a GAAP basis. Disney had not previously reported a quarterly loss since April 2001, when a heavy charge for shutting down the online platform Go.com effort caused it to go into the red.

For the full year, Disney recorded a GAAP net loss of $ 2.83 billion. Disney did not report an annual GAAP loss on FactSet records dating back to 1980, and did not report two consecutive quarterly losses on records dating back to 1996.

You can read the full results of Qfinancial here.

Source: Market Watch

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