Disney reports difficult Q2

Profits drop 46 per cent, but consumer products up nine per cent thanks to US retail acquisition.
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The Walt Disney Company has reported its results for its second fiscal quarter and six months ending March 28th 2009 - showing that even one of the biggest entertainment companies in the world isn't immune to the changing economic climate.

Profits for the group as a whole dropped 46 per cent in the period. The firm reported net income of $613 million for the three months to March 28th, down from $1.1 billion the previous year. Revenue also dropped to $8 billion.

However, consumer products actually saw a lift of nine per cent, to revenue of $496 million. This increase was due to the acquisition of Disney Stores North America in the third quarter of fiscal 2008, partially offset by a decrease in earned royalty revenue at merchandise licensing.

To read the full story on our sister site, Licensing.biz, click here.

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