Pandemic hits Disney revenue, but streaming TV sees gains

Los Angeles (AFP) – Walt Disney Co. on Thursday reported a hefty loss in the just-ended quarter as the global pandemic hit its theme parks and cinema operations, but shares rose on gains in its new streaming television service.The media-entertainment powerhouse reported a loss of $710 million in the period ending October 3, compared with a $777 million profit in the same period a year ago. Revenue slumped 23 percent from last year to $14.7 billion in the company’s dismal fourth quarter.But Disney shares jumped in after-hours trade on news that its recently launched streaming television service…

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