Disney game division posts $216 million loss
House of Mouse's game sector the company's only business unit not to post a profit for full year and fourth quarter.
Disney's game division is seeing red. The company reported financial results for its full year and fourth quarter ended September 29 recently, revealing Disney's game business was its only sector not to post a profit for either period. The House of Mouse's "Interactive" sector, which houses its games business, posted a full-year net loss of $216 million on $845 million in total revenue.
Revenue slid 14 percent year-over-year, while the $216 million loss was better than the $308 million hit the company took this time last year. Disney attributed this improved result in part to an increase in the company's social games business.
On the console side, Disney said this business took a hit due to a decline in overall console software sales by way of releasing fewer "significant" titles. This was partially offset, Disney said, by lower marketing costs and decreased product development costs.
"The reduction in console games product development reflected an ongoing shift from console game releases to mobile and social game releases," the company said in a statement.
For the quarter, Disney's Interactive revenue slid 14 percent to $191 million and losses tallied $76 million, compared to losses of $94 million a year ago.
Disney's Epic Mickey 2: The Power of Two is due out this month for Xbox 360, PlayStation 3, Wii, PC, and Wii U.
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