IMAX Earnings: Here’s Why Investors are Selling Shares Now
IMAX Corporation (NASDAQ:IMAX) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.43%.
IMAX Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 11.11% to $0.08 in the quarter versus EPS of $0.09 in the year-earlier quarter.
Revenue: Decreased 10.25% to $49.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: IMAX Corporation reported adjusted EPS income of $0.08 per share. By that measure, the company missed the mean analyst estimate of $0.09. It missed the average revenue estimate of $54.15 million.
Quoting Management: “In the first quarter, we continued to execute against our three main Company priorities for the year – Penetration, Differentiation, and Scale,” said IMAX Chief Executive Officer Richard L. Gelfond. “We expect these to be key drivers of our long-term growth, while supporting our results in the near-term, and we are excited about the promising upcoming lineup of films in IMAX, particularly in the second quarter.”
Key Stats (on next page)…