Disney warns the Hong Kong protests could slam its operating profit with a $275 million hit

markets.businessinsider.com | 11/8/2019 | Staff
jolan (Posted by) Level 3
Disney cautioned investors on its fourth-quarter earnings call that the Hong Kong protests could cost the company $275 million in operating profit next year.

The media conglomerate is projecting operating income will fall $80 million at Hong Kong Disneyland during the first quarter of 2020 alone.

Warning - Protests - Months - Hong - Kong

The warning comes as widespread protests over the last several months have thrust Hong Kong into its first recession in a decade.

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Months - Protests - Hong - Kong - Spill

If months of protests in Hong Kong spill over into 2020, Disney says it could absorb a $275 million hit to its operating income.

The media conglomerate said operating profit fell $55 million at Hong Kong Disneyland in the fourth quarter amid mass pro-democracy protests. The losses offset growth at Disneyland Paris and the Shanghai Disney Resort, CFO Christine Mary McCarthy said on Disney's most recent earnings call.

Circumstances - Hong - Kong

"Circumstances in Hong Kong have led to...
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