Disney Interactive posts 20 percent losses in third quarter, citing bad economy
Businesses don't adhere to the same rules we silly humans do; the cycle of the Earth around the sun, for instance. Disney Interactive Media Group is no exception, posting its quarter three financial results -- the quarter that ends in June, folks -- just this week. According to Gamasutra, revenue dropped by $29 million year over year, which company CEO Robert A. Iger said during a conference call was due to "adverse economic conditions."
Though Iger didn't specifically spell it out, we would imagine that investing in the development of multiple major titles in Split/Second and, um ... whatever it is that Warren Spector's working on at Junction Point isn't helping with the money intake either. The CEO is positive about the future, but remains worried about the current economy, saying, "We do see signs of economic stabilization, but the pace and strength of recovery remain uncertain and we are managing accordingly." We're guessing it's a bad time to ask for those free passes to Epcot?
