The BBC reports that Walt Disney has recorded a 26% drop in profits during its second quarter. Disney says people are spending less money at its theme parks. Revenues were down by 7% for the quarter.
Revenues at the Parks and Resorts division fell 9% to $2.8bn, while those at the Studio Entertainment division fell by 12% to $1.3bn.
The company said visitors were spending less at its theme parks, both in the US and in Paris, France.
Despite the market's reaction, Disney said it was heartened by the results.
"While a tough global economy impacted our performance in the quarter, we remain encouraged by the relative strength of our business," said Disney president Robert Iger.
If the parks are less crowded it is probably a good time to go.
