Disney games division decreases losses
Q3 results show YOY deficit reduced by $16 million, despite revenues falling 20%
The Walt Disney Corporation has posted its third quarter financial results with a 7 per cent overall fall in revenues and a 26 per cent drop in profits for the three months to the end of June in comparison to the same period in 2008.
The company's videogames division, Interactive Media - which includes both Disney Online and Disney Interactive Studios - also saw a decline in revenue, to the tune of 20 per cent year-on-year, although the division's losses were reduced from USD 91 million to USD 76 million.
That compared to a 3 per cent revenue decline for the nine months to the end of June for Interactive Media, which took USD 555 million in that time.
"Lower segment operating loss reflected lower marketing and product development costs at Disney Online and at Disney Interactive Studios," read a statement. "Lower costs at Disney Interactive Studios were more than offset by a decline in unit sales of self-published videogames at Disney Interactive Studios reflecting the strong performance of The Chronicles of Narnia: Prince Caspian in the prior-year quarter."