DA
05-13-2010, 02:06 PM
Disney has posted earnings for its second fiscal quarter ended April 3, 2010, and there's good news and bad news. The good news is that revenues are up in its Interactive Media segment (which houses Disney Interactive Studios). Specifically, Interactive Media revenues are at $155 million, up from $129 million in the same period last year, a 20 percent increase.
The bad news: the Interactive Media segment still reports a loss of $55 million, though that loss is an improvement over the $61 million loss reported during the same quarter last year. Disney pins the improvement on growing Club Penguin subscription revenues as well as "lower video game inventory costs." The company added that gains were offset by "higher internet product development and sales and marketing costs."
The report makes little note of Disney Interactive's prospects for the rest of the year, though the publisher has more than a few big projects on the horizon. Split/Second is only a week away, while Toy Story 3, Disney Sing It: Family Hits, Disney Guilty Party, a new Pirates of the Caribbean and Disney Epic Mickey are all on the horizon this year. And let's not forget Marvel -- which Disney owns -- has a title or two on the way, as well.
Joystiq
The bad news: the Interactive Media segment still reports a loss of $55 million, though that loss is an improvement over the $61 million loss reported during the same quarter last year. Disney pins the improvement on growing Club Penguin subscription revenues as well as "lower video game inventory costs." The company added that gains were offset by "higher internet product development and sales and marketing costs."
The report makes little note of Disney Interactive's prospects for the rest of the year, though the publisher has more than a few big projects on the horizon. Split/Second is only a week away, while Toy Story 3, Disney Sing It: Family Hits, Disney Guilty Party, a new Pirates of the Caribbean and Disney Epic Mickey are all on the horizon this year. And let's not forget Marvel -- which Disney owns -- has a title or two on the way, as well.
Joystiq