All in all, The Walt Disney (NYSE: DIS) Company’s fiscal Q1 was solid, buttressed by strong performance at its cable networks, theme parks and consumer products divisions. Even broadcasting, which isn’t the strongest part of the company these days, gained a bit. But the Interactive segment, in spite of impressive sales growth, posted a greater loss during the period. Segment profits were impacted by the July acquisition of social game developer Playdom for up to $763.2 million.
Interactive Media revenues for the quarter ballooned 58 percent to $349 million, thanks to holiday sales of Epic Mickey and Toy Story 3. That was contrasted by last year’s fairly weak offerings of titles such as Sing It Pop Hits and Tinker Bell and the Lost Treasure.
However, Interactive segment operating results swung to $13 million loss as higher sales of console games were not enough to offset the inclusion of results for Playdom in the current quarter.
The quarter’s other highlights:
– Cable did reliably well, as operating income rose 42 percent thanks to 16 percent higher revenues and lower programming costs at ESPN and The Disney Channels.
– Broadcasting’s profits came back with a 64 percent rise over the year before, though revenues were up just 4 percent.
– Like Interactive, Filmed Entertainment was a bit mixed. Revenues for the quarter were essentially flat at $1.9 billion. At the same time, segment operating income jumped 54 percent to $375 million, mainly due to lower distribution costs.