Disney Interactive profits rise 13%

Disney has posted a $10m increase in profit for its Interactive arm in its fiscal year ending July 3rd.

Games revenues rose 74 per cent to $197m – up from last year’s $113m, with Toy Story 3 and Split/Second: Velocity cited as the current quarter’s key releases.

However Disney Interactive posted an overall operating loss of $65m – up 13 per cent year-on-year from $75m. In its financial statement the firm said this was due higher self-published video games sales, offset by higher marketing costs.

Overall across its parks and resorts, media networks, consumer products and movie channels, Disney posted a year-on-year profit increase of $688m to $2.5bn. That’s a 37 per cent rise over last year’s $1.8bn.

Disney president and CEO Robert A. Iger said: We’re very pleased with our strong third quarter, in which we grew revenues substantially and improved profitability across the majority of our businesses.

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.”