DreamWorks Animation Stock Up as Earnings Beat Expectations
Why China Yanked 'The Croods' From Theaters
DreamWorks Animation on Wednesday reported rising second-quarter financial results, with revenue at $213.4 million and earnings per-share at 26 cents. A year ago, the company earned 15 cents a share on revenue of $162.8 million.
Analysts had expected revenue of just under $188 million and net earnings of about 19 cents per share.
DreamWorks stock, while still trading at a lower price than where it debuted in 2004, has been enjoying a rally lately, up about 48 percent so far this year. On Wednesday, shares rose 2 percent to $24.76 then surged another 6 percent after the closing bell once earnings had been disclosed.
The Croods, which has earned $583.9 million at the worldwide box office, contributed $7.18 million in revenue during the quarter, while Rise of the Guardians turned in a respectable $16.7 million, primarily from home entertainment.
Madagascar 3: Europe's Most Wanted contributed $48.9 million, mostly via worldwide pay television; Puss In Boots brought $1.4 million, mostly through home entertainment; and DWA's library content contributed $41.3 million.
Classic Media brought in $9 million and "other items," which includes results from Oriental DreamWorks and recent digital acquisition AwesomenessTV, was good for $24.3 million.