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'Infinity' Game Is Disney's Star, Helps Post Record Profits

'Infinity' Game Is Disney's Star, Helps Post Record Profits

Feb 5 2014, 4:04pm CST | by

The Walt Disney Company resoundingly beat Wall Street estimates for its 2014 1st quarter earnings, with strong performances across the board from cable networks to parks to movies. But perhaps the...

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31 weeks ago

'Infinity' Game Is Disney's Star, Helps Post Record Profits

Feb 5 2014, 4:04pm CST | by

The Walt Disney Company resoundingly beat Wall Street estimates for its 2014 1st quarter earnings, with strong performances across the board from cable networks to parks to movies. But perhaps the biggest star was its hit “Disney Infinity” video game, which continued its remarkable run, nearly single-handedly turning around the entertainment giant’s interactive division.

Overall, Disney posted earnings per share of $1.04 and revenue of $12.31 billion against Wall Street consensus estimates of $0.92 and $12.25 billion, respectively. Disney stock surged over 2% in after hours trading.

“We had an incredibly strong first quarter, delivering a 32% increase in adjusted earnings per share and double-digit increases in operating income in all business segments,” Disney Chairman and CEO Robert Iger said in a statement. “These results reflect the strength of our unprecedented portfolio of brands, a constant focus on creativity and innovation, and the continued success of our long-term strategy.”

The cable networks business, as usual, provided the largest amount of sales and profit, growing 34% in the latter category. That helped cover up a 32% decline in income from the ABC broadcasting network segment. Meanwhile, the studio business grew 23% from a year ago, and increased income by 75%. That came largely on the back of big hits like the animated ‘Frozen’ and Marvel superhero movie “Thor: The Dark World.”

Interactive — aka online media and games — is the smallest earner, but Infinity’s success made the unit Disney’s best performing year over year. Revenue increased 38% to $403 million and operating income jumped over 500% to $55 million. There have been reports that Disney is looking to layoff several hundred employees at this division. We’ll have to see what this news means for that decision.

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Disney Infinity Launch

Source: Forbes Business

 
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2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new c ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH17 ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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