DreamWorks Earnings: Here’s Why the Stock is Up Now
DreamWorks Animation SKG Inc. (NASDAQ:DWA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.52%.
DreamWorks Animation SKG Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 73.33% to $0.26 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 31.08% to $213.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: DreamWorks Animation SKG Inc. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.2. It beat the average revenue estimate of $189.7 million.
Quoting Management: “DreamWorks Animation significantly outperformed in the second quarter, thanks primarily to The Croods’ incredibly successful box office run, where it has amassed $584 million worldwide to become the fifth highest grossing movie of the year,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. “We also have a great deal of momentum within our television, consumer products and location-based entertainment businesses today, as DreamWorks Animation continues to diversify and evolve into a branded family entertainment company.”
Key Stats (on next page)…