Mortal Kombat, Lego Pirates of the Caribbean raise Warner Bros. revenues
The "Filmed Entertainment" division of Time Warner -- under which its Warner Bros. Interactive Entertainment brand defiantly operates -- saw a revenue increase of 13 percent during the second fiscal quarter (ended June 30, 2011). The $2.8 billion result was "led by growth in video game revenues," attributed primarily to the grosses of Lego Pirates of the Caribbean: The Video Game, and the grossest Mortal Kombat yet.
That pair's performance was likely dwarfed by the record-breaking sequels at the cinema: Warner Bros. raked in over $1.5 billion worldwide between Harry Potter and the Deathly Hallows: Part 2 and The Hangover Part II. (But don't tell Green Lantern that.)
Operating income for the division dropped by 11 percent from last year to $154 million. According to Warner's statement, higher revenues were offset during the period by elevated advertising costs, restructuring costs, and film-related valuation adjustments. Time Warner as a whole posted a net income of $637 million for the quarter, alongside revenues of $7.03 billion.
