Consumer Products revenues up to $1 billion for Disney in Q1

CEO Robert Iger says that firm is off to "a solid start" in 2013.
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The Walt Disney Company has reported its first quarter earnings (ending December 29th 2012), with the Consumer Products arm seeing revenues hit $1 billion.

Revenues increased seven per cent to reach the $1 billion figure, while segment operating income increased 11 per cent to $346 million.

Higher operating income was due to increases at merchandise licensing and at Disney's retail business.

The increase at merchandising licensing was due to lower revenue share with the Studio Entertainment sector - this reflected a higher mix of revenues from properties subject to the revenue share in the prior year quarter driven by sales of Cars merchandise.

Meanwhile, comparable store sales in Japan and growth in North America bolstered the retail side of the business.

Elsewhere, Disney saw Studio Entertainment revenues decrease by five per cent to $1.5 billion; interactive revenues for the quarter rose by four per cent to $291 million; and Parks and Resorts revenues increased seven per cent to $3.4 billion.

For the company overall, revenues were up five per cent for the period to $11,341 million.

"After delivering another record year of growth in 2012, we're off to a solid start on fiscal 2013," said Robert Iger, chairman and CEO of The Walt Disney Company. "Our ongoing success is driven by our long-term strategy, the strength of our brands and businesses, and our high quality family entertainment."

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