Gamasutra: The Art & Business of Making Gamesspacer
arrowPress Releases
July 30, 2014
PR Newswire
View All





If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Disney Interactive Posts Significant Losses For Second Quarter
Disney Interactive Posts Significant Losses For Second Quarter
May 11, 2011 | By Mike Rose

May 11, 2011 | By Mike Rose
Comments
    Post A Comment
More:



The Disney Interactive Media Group has posted significant losses for the second quarter of this fiscal year, leading to the parent company's earnings being lower than expected.

For the quarter ended April 2, 2011, revenue from Disney Interactive Studios increased by 3 percent year-over-year, up from $155 million to $159 million. However, it saw losses in operating income of $115 million, down from a loss of $55 million in the same quarter last fiscal year.

The company noted that the losses were driven by the acquisition of Playdom, a deal worth $563.2 million, plus another $200 million if Playdom meets certain performance targets.

In an earnings call yesterday as reported by PaidContent, Disney CEO Bob Iger noted that the company "didnt specify that wed get toward break even [in Interactive Media]. I think we talked at the investor conference about profitability in 2013. Its a work in progress."

Overall, Disney's profits for the quarter were $1 billion, up slightly from $998 million a year ago.

Earlier in the year, Disney Interactive saw significant layoffs at both its Austin-based Junction Point Studios and its Los Angeles headquarters.

The media giant also shuttered its Vancouver-based Turok reboot developer Propaganda Games, following the release of the studio's Tron: Evolution tie-in game in December.


Related Jobs

Technicolor
Technicolor — Austin, Texas, United States
[07.30.14]

Core Systems Engineer
CCP
CCP — Newcastle, England, United Kingdom
[07.30.14]

Senior VFX artist
Turbine Inc.
Turbine Inc. — Needham, Massachusetts, United States
[07.30.14]

Product Marketing Manager: Mobile Games
InnoGames GmbH
InnoGames GmbH — Hamburg, Germany
[07.30.14]

Software Developer Analytics / Big Data (m/f)










Comments



none
 
Comment: