CP revenues up for Disney in Q2

Samantha Loveday

By Samantha Loveday

May 11th 2012 at 9:29AM
CP revenues up for Disney in Q2

Division increases by eight per cent thanks to Mickey, Minnie, Princess and The Avengers.

The Walt Disney Company has reported its financial results for the second fiscal quarter and six months ending March 31st 2012.

The consumer product divisions saw revenues increase by eight per cent to $679 million, with segment operating income up four per cent to $148 million.

The higher operating income was primarily due to an increase at merchandise licensing, partially offset by lower results at the firm's retail business.

The increase in merchandise licensing was mainly due to higher minimum guarantee shortfall recognition in the current quarter and earned revenue growth driven by the performance of Minnie, Mickey, The Avengers and Disney Princess merchandise.

Meanwhile, the decrease in the retail sector was due to a decline in the North American business, driven by decreased margins due to higher promotions.

In other divisions, revenues in interactive media increased by 13 per cent to $179 million and segment operating results improved by $45 million to a loss of $70 million; studio entertainment revenues decreased 12 per cent to $1.2 billion; while parks and resorts revenues for the quarter increased by ten per cent to $2.9 billion.

Overall, revenues for the quarter were $9.6 billion, up six per cent.

"We're incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN and ABC, and our extraordinary ability to grow franchises across our businesses," said Robert Iger, Disney chairman and CEO.