Losses Increase For Disney Interactive's Fiscal Q3

The Disney Interactive Media Group posted increased losses for its third quarter, as Lego Pirates of the Caribbean and Cars 2 helped to drive game sales in the console space.
The Disney Interactive Media Group posted increased losses year over year, as the company as a whole saw a profitable third fiscal quarter. For the quarter ended July 2, 2011, revenue for the division increased 27 percent to $251 million year-over-year, and operating losses increased by $21 million to $86 million -- the Disney Interactive Media Group remains the only division within the company still operating at a loss. The company noted that these losses are partially related to continued costs from the 2010 acquisition of Playdom, though these were somewhat offset by an improvement in its console game business thanks to sales of Lego Pirates of the Caribbean and Cars 2. Across all of its divisions, Disney took in $1.48 billion in profit, up slightly from $1.33 billion during the same period last year. Overall, revenue grew 7 percent to $10.7 billion for the quarter. Last month, Disney Interactive laid off approximately 30 developers from its social game studio Three Melons. Previously, the company shut down Pure and Split/Second developer Black Rock Studios and Turok reboot and Tron: Evolution developer Propaganda Games. [UPDATE: The original version of this story stated operating losses narrowed at Disney's games division, but losses have in fact increased. Gamasutra has updated the story and apologizes for any confusion.]

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