Strong Q3 for Walt Disney Company

Consumer Products revenues up 19 per cent for period to $606m, thanks in part to Toy Story.
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The Walt Disney Company has reported a substantial growth in revenues across the majority of its businesses for its third quarter.

Revenues for the period ending July 3rd 2010 were $10,002m (up 16 per cent), while net income stood at $1,331m (up 40 per cent).

The Consumer Products division enjoyed a revenue increase for the quarter of 19 per cent to $606m, while segment operating income was up 22 per cent to $117m.

The increase was primarily due to an improvement at retail level, driven by lower costs at the Disney Story North America, plus an increase in publishing driven by Marvel titles.

Meanwhile, at merchandise licensing, higher licensing revenue driven by the strength of Toy Story and sales of Marvel products were offset by a higher revenue share with the Studio Entertainment segment and operating costs and intangible asset amortization associated with Marvel.

Elsewhere, Studio Entertainment grew revenues for the period by 30 per cent (boosted by Alice in Wonderland, Toy Story 3 and Iron Man 2); Parks & Resorts was up three per cent; and Interactive Media grew by 74 per cent, due to higher self-published video game sales at Disney Interactive Studios.

"Our performance underscores the value of sticking to a smart strategy even in tough times, of investing in the right people, and of focusing relentlessly on quality and innovation to drive growth in shareholder value," said president and CEO, Robert Iger.


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