Its parks and resort unit lost $3.5 billion in the quarter and the unit's revenue was down a whopping 85% from the quarter a year prior.
-- Frank Pallotta, CNN Business
Back in the first quarter, Disney's theme parks made $7.4b.
Disney theme park revenue
Coffee chains Dunkin' and Starbucks both reported deep declines in revenue and visits because people aren't stopping by as much in the mornings. Starbucks CEO Kevin Johnson CEO said the "disruption to the weekday morning routines, notably commuting to work and school, is a headwind."
-- Jordan Valinsky, CNN Business
WFH hits McDonald’s
Will breakfast rituals return?
Weak ad spending and search activity undermined quarterly metrics, dropping 9.8% year over year, with customers forced to cut ad budgets as a result of the COVID-19 pandemic.
-- Alan Farley, Investopedia
Twitter ad revenue off 23%
Snap throws cold water on Q3 digital advertising business
"I have reached the conclusion we do not need to change our antitrust laws,” Sensenbrenner told the committee. He subsequently asked Amazon's Bezos to speculate on what might happen if the federal government ordered his company to break into smaller components, saying, "You might have to go to separate places for books or groceries or videos or electronics. How are the consumers helped by that?" Bezos agreed: "They would not be."
-- Rudy Takala, MediaIte
I think it's safe to say that Congressman Sensenbrenner got the memo.
CFO Kevin Ozan said that the company expects U.S. same-store sales to be slightly positive in July. Breakfast continues to be the most challenged meal, but the company is stealing market share from its competitors.
-- Amelia Lucas, CNBC
Some of these commuting rituals, like hitting-up Starbucks or McDonald's on the way to work, are never coming back -- Scrib