Mickey and Minnie, Disney Channel and Planes merchandise drives Disney in Q2 - Licensing.biz

Mickey and Minnie, Disney Channel and Planes merchandise drives Disney in Q2

Frozen also bolsters the firm's theatrical division.
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The Walt Disney Company saw its Consumer Products revenues grow by 16 per cent for the second quarter to $885 million.

Segment operating income, meanwhile, increased by a healthy 37 per cent to $274 million.

The firm attributed a number of brands to the growth, mainly the strong performance of Mickey and Minnie Mouse, the Disney Channel and Planes merchandise. Disney also cited lower acquisition accounting impacts, which reduced revenue recognition in the prior year quarter.

Higher operation income was also reported for the firm's retail businesses, due to comparable store sales growth in Japan and North America, a new wholesale distribution in the US and higher online sales.

Elsewhere, Frozen helped lift Studio Entertainment revenues by 35 per cent for Q2 to $1,800m, while Interactive revenues for the quarter also increased by 38 per cent to $268m. Segment operating income also improved from a loss of $54m to income of $14m, mainly thanks to Disney Infinity.

Overall, The Walt Disney Company reported revenues of $11,649m for the quarter ending March 29th 2014.

"We're extremely pleased with our results this quarter, delivering double digit increases in operating incomes across all of our businesses and the highest quarterly earnings per share in the history of the company," said Bob Iger, chairman and CEO of The Walt Disney Company.

"Our continued strong performance reflects the strength of our brands, the quality of our content and our unique ability to leverage creative success across the entire company to drive value."

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