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Walt Disney Company posts strong Q1 numbers

By Phil Elliott

Wed 09 Feb 2011 8:32am GMT / 3:32am EST / 12:32am PST

But Interactive Media division sees losses widen as Playdom acquisition continues to cost

The Walt Disney Company has posted its fiscal first quarter results, with strong for the three months to January 1, 2011.

The company recorded revenues of $10.7 billion, up 10 per cent on the same period the previous year, while profits jumped by 40 per cent to $2.21 billion.

But while the Interactive Media division - which incorporates the videogames business - improved revenues by 58 per cent to $349 million, its losses widened from $10 million to $13 million.

That was despite "higher sales of console games" - titles released in the three months included Toy Story 3 and Epic Mickey - that were "more than offset" by the ongoing costs of the Playdom acquisition.

Interactive Media remains the smallest segment of the overall Company business, with its $349 million income comparing to $4.65 billion from Media Networks, $2.87 billion from Parks and Resorts, $1.93 billion from Studio Entertainment and $922 million from Consumer Products.

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