Disney Interactive Media losses reduced
Wednesday, 12th May 2010 at 11:15 am
Overall company profits rise, but game division loses $55 million
Disney Interactive Media has reported losses for both the fiscal quarter and half ending April 3rd this year. While overall the Disney company enjoyed a climb in profits for the period, as revealed by its latest financial report, the division responsible for its games lost $55 million in operating results for the quarter.
Despite the loss, the figure represents an approximate 10 per cent rise in contrast to the $61 million loss of the same quarter the previous year. Disney's Interactive Media revenues climbed 20 per cent to $155 million.
According to a statement in Disney's report: "improved operating results reflected higher Club Penguin subscription revenues and lower video game inventory costs, partially offset by higher internet product development and sales and marketing costs."
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