Disney Profits Jump 32%, Interactive Division Posts Loss - News

by William D'Angelo , posted on 08 May 2013 / 2,133 Views

The Walt Disney Company has released its financial statement for its second fiscal quarter and six months ended March 30, 2013. Revenue for the quarter increased 10 percent to $10.55 billion, from $9.63 billion during the same quarter a year ago. Profits jumped an impressive 32 percent to $1.51 billion, from $1.14 billion.

For the six month period revenue increased by seven percent to $21.90 billion, up from $20.41 billion during the same period a year ago. Profits increased by 11 percent to $2.90 billion, from $2.61 billion.

Disney Interactive was the only division to post a loss for the quarter. Revenue did increase eight percent to $194 million. The division posted a loss of $54 million, which is a 23 percent improvement when compared to the same quarter a year ago. The shrinking loss was due to growth in its Japan mobile business from a licensing agreement.

Disney has moved away from developing its own game and announced earlier this week that Electronic Arts will be publishing Star Wars games. When Disney acquired all the rights to LucasFilm, it quickly killed LucasArts. However, Disney Interactive is publishing Disney Infinity which will be released this August.

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