- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
DreamWorks Animation rather quietly reported impressive quarterly financial results on Wednesday, though the stock didn’t budge, given the company behind Shrek and Kung Fu Panda is in the midst of being acquired by Comcast.
The company, run for now by CEO Jeffrey Katzenberg, posted revenue of $221 million while Wall Street analysts had predicted just $182 million. Operating income of $16 million easily beat projections of a loss of $3 million; ditto for per-share earnings, which came in at 10 cents while estimates were for a loss of 7 cents.
All four of the company’s segments reported a gross profit, and they all showed significant growth in revenue: feature films revenue was $98 million, up from $88 million; television series and specials was $72 million, up from $55 million; consumer products was $23 million, up from $12 million; and new media grew to $28 million from $15 million.
Shares of DWA were falling a penny in midday trading to $40.99. Comcast said in April it had agreed to purchase the company for $3.8 billion, and regulators are expected to approve the deal.
Sign up for THR news straight to your inbox every day