Disney reports strong Q2 - ToyNews

Disney reports strong Q2

Firm is "incredibly optimistic" about the future with focus on brands such as The Avengers.
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Sales increased by six per cent for the second quarter ended March 31st 2012, to $9.6 billion, while net profit for the quarter rose by 21 per cent to £1.14 billion.

For the six months ended March 31st, revenues rose by three per cent to $20.4 billion and net profit was up 16 per cent to $2.6 billion.

Robert Iger, Disney chairman and CEO, commented: “With 18 per cent adjusted growth in earnings per share, we’re pleased with our second quarter performance.

“We’re incredibly optimistic about our future, given the strength of our core brands, Disney, Pixar, Marvel, ESPN, and ABC, and our extraordinary ability to grow franchises across our businesses, such as The Avengers, which shattered domestic box office records with a $207.1 million opening weekend for a global performance of more than $702 million to date.”

The firm also reported that The Avengers has dominated the UK box office for a second weekend, taking £11.6 million over the Bank Holiday weekend, making a total of £33.3 million. The figures mean that the film has broken the Harry Potter record for the biggest opening of all time.

Disney Consumer Products revenues also increased eight per cent to $679 million and segment operating income increased four per cent to $148 million. Higher operating income was primarily due to an increase at merchandise licensing partially offset by lower results at our retail business.

The increase at Merchandise Licensing was primarily due to higher minimum guarantee shortfall recognition in the current quarter and earned revenue growth driven by the performance of Minnie, Mickey, The Avengers and Princess merchandise.

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