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Disney reports Q2 earnings rise

The huge success of Marvel's The Avengers and the promise of a sequel is helping the House of Mouse forget about the box office disaster that was John Carter, as the company reported a 21% rise in second quarter profit of US$1.14 billion versus US$942 million a year ago.
May 9, 2012

The huge success of Marvel’s The Avengers and the promise of a sequel is helping the House of Mouse forget about the box office disaster known as John Carter, as the company reported a 21% rise in second quarter profist of US$1.14 billion versus US$942 million a year ago.

In addition, growth from ESPN, lower programming and production costs at ABC, and sales increases at its domestic parks and resorts including Tokyo Disney Resort and Hong Kong Disneyland Resort all helped to boost profits.

On the consumer products front, revenue increased 8% to US$679 million, driven by sales performances of products featuring Minnie, Mickey, The Avengers and its Princess brand, and interactive revenue increased 13% to US$179 million, helped by improved results of social games.

Despite the improved profits in several key areas, Studio entertainment revenues fell 12% to US$1.2 billion and an operating loss of US$84 million was reported reflecting losses from John Carter.

Looking forward, Disney will continue to ride the success of Marvel’s The Avengers, which destroyed domestic box office numbers with a US$207.1 million opening weekend and global sales of more than US$702 million to date. It is also still in the hunt for a new Walt Disney Studios Chairman after former chairman Rich Ross exited the post after the release of John Carter.

About The Author
Jeremy is the Features Editor of Kidscreen specializing in the content production, broadcasting and distribution aspects of the global children's entertainment industry. Contact Jeremy at jdickson@brunico.com.

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