Wow! John Carter is destined to become one of the biggest box-office failures of all time.
"As a result of the catastrophic performance of the action film on Mars, the studio should lose up to $120 million in the quarter.
John Carter will cause Disney to write down about $200 million, the company said Monday.
During the period ending March 31, Disney's second-fiscal quarter, the studio segment will post a loss of from $80 million-$120 million, the company said.
"In light of the theatrical performance of John Carter ($184 million global box office), we expect the film to generate an operating loss of approximately $200 million during our second fiscal quarter ending March 31," Disney's statement issued Monday said. " As a result, our current expectation is that the Studio segment will have an operating loss of between $80 and $120 million for the second quarter."