February 2020 seems like forever ago... Back then, Uber expected to be profitable by year's end. Reality: Uber lost $2.9B last quarter, a massive L (even for Uber's famous cash-burns). Even though gross bookings for Uber Eats soared 54%, Uber's ride-hail biz plummeted 80% in April. But around two-thirds of Uber's quarterly loss was caused by its tanking investments in Asian ride services Didi and Grab.
Baby Yoda eating Mickey Mouse churros (alone)... Disney's profit fell 91% this quarter — Its Parks division suffered an un-magical 10% sales dip (parks have been shut since March 16). Disney's cable networks (like ESPN) are suffering on zero live sports, depressed ad sales, and accelerated cord-cutting. As a sour cherry on top of the corona-loss sundae, the release of studio blockbusters like Mulan had to be put on hold.