Mortal Kombat, LEGO Pirates Boost Warner Bros. Financials
While other entertainment companies like LucasArts and Disney struggle to find stability in their game divisions, Warner Bros. has things figured out. In short, release good games in high profile brands.
In a recent financial statement, Warner Bros. revealed that its Filmed Entertainment division, which houses Warner Bros. Interactive, increased revenue over 13 percent in the second quarter of 2011, for a total of $2.8 billion.
A release by Warner gave some of the credit for this increase to "growth in video game revenues," specifically the games Mortal Kombat and LEGO Pirates of the Caribbean: The Video Game. It also saw strong returns from film, with Harry Potter and the Deathly Hallows: Part II and The Hangover II.
While operating income for the division was down 11 percent due to increased operating and marketing costs, the company as a whole posted $7.03 billion in revenue with a profit of $637 million.
We expect Warner Bros. Interactive's strong performance will continue through the year with the recently released Bastion and the upcoming Batman: Arkham City.