I will see your claim and raise you Ernst&Young who lost $600M+ this year alone trying to spilt out audit and consulting businesses and ended up doing nothing except pi--ing their money away. We won't mention the fines ($100M on cheating CPAs alone) and lost income from around the world based on their activities. Probably more total lost than TWDC's movie losses lately.
$600M? Is that all? Disney laughs in the face of $600M because that's nothing to this management. They've poured billions into a park App that made the experience worse, burned more billions creating movie content that continues to flop, and continue lighting billions on fire with Disney+ for content that again, no one wants.
Disney physically lost over $10B during the mismanagement of Covid and while some is expected, the losses were absolutely atrocious. Even if you give them a pass on that completely, the company has continued to be mismanaged to the point of literally never financially recovering.
Something under-reported is that this company used to make $1.8B-$3B in profit every quarter like clockwork. Since Covid and their desire to engage in political nonsense and ruin their movie studios, Disney is barely making $1B in their BEST quarters but have also actually still lost money or barely made anything with incredible volatility. For a company this size, a leadership position, and with this powerful of a brand, this is inexcusable.
Last quarter, they made just $264M in profit, an utter joke for a brand like Disney.
The stock is also down nearly 60% for the highs and refuses to recover, for good reason.
Almost $200B in shareholder value has been lost because this management and the board is completely corrupt and inept.
EY is not publicly traded, thus not in the S&P, so we don't know the horrors as well as Disney. I promise you, Disney has been worse if for no other reason than the numbers are bigger and the brand has no excuse.
