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Disney Interactive Media losses reduced - MCV

Disney Interactive Media losses reduced

Overall company profits rise, but game division loses $55 million
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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."

Click here to read the full story on our sister site MCV.

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