The New York Times Company said it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for advertisers. But the media company, which gets two-thirds of its revenue from subscriptions, said it added more than half a million net new digital subscriptions.
The Cheesecake Factory swung to a loss in its first quarter as the coronavirus pandemic forced the company to close its dining rooms and furlough thousands of its workers.
Citing uncertainty due to the coronavirus pandemic that's shuttered much of the dine-in restaurant industry around the world, the company suspended its full-year forecast.
Disney wants Wall Street to focus on its growing streaming business, but its media networks, theme parks and film studio have grown too large to be ignored. That's become a big problem during coronavirus shutdowns.
Last year, Disney's Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company's biggest drag on earnings, thanks to the Covid-19 outbreak.
Industrial materials maker DuPont on Tuesday slashed its capital expenditure by about $500 million and raised its annual cost-savings target to counter global trade uncertainties brought on by the coronavirus outbreak.
Tenet Healthcare warned of a significant hit from the Covid-19 pandemic in the current quarter, even as the hospital operator's quarterly profit beat estimates due to a tax benefit from the coronavirus stimulus bill.
Tyson Foods on Monday reported that its fiscal second-quarter net income fell 15% from a year earlier, as production disruptions weighed on its results.