With the help of some cavemen,
The Glendale studio reported net income of $22.2 million, or $0.26 a share, on revenue of $213.4 million during the quarter ended June 30.
That's well above net income of $12.8 million, or $0.15, on revenue of $162.8 million, during the same period a year earlier. The results easily exceeded the 20 cents a share estimate analysts had predicted.
"DreamWorks Animation significantly outperformed in the second quarter, thanks primarily to
"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."
"The Croods," released March 22, has reached $397.5 million at the international box office for a worldwide gross of $583.9 million to date. The caveman comedy contributed $71.8 million of revenue to the quarter.
DreamWorks Animation shares rose 47 cents, or 1.9%, to $24.76 on Wednesday and climbed 5% in after-hours trading.
The company's shares stumbled in July after the poor debut of the studio's most recent movie,
Piper Jaffray analyst James Marsh said recently that the film's poor performance could result in a write-down of as much as $50 million. DreamWorks Animation took an $87-million write-down in February for the holiday movie
But in a call with analysts, executives said they expected that "Turbo" would ultimately be profitable because of a strong performance internationally.
Katzenberg said the film, about a snail who wants to race fast cars, was hurt by an overcrowding of the animation market this summer.
"We just ran into a perfect storm of way too many movies," he said. "We've never experienced this level of animation congestion in a period of time."
DreamWorks Animation also announced Wednesday that it has tapped former
During her 26-year tenure at
The hiring comes as DreamWorks Animation looks to lessen its dependence on animated movies by branching into the competitive world of children's television. The studio this year announced distribution deals to produce animated TV shows for the online streaming service
"We're going to be making a ton of television," Cohn said. "They have so much content lying around just waiting to be exploited."
The studio is already producing a TV series for Netflix, a spinoff from its recent release called "Turbo F.A.S.T.," and "Dragons: Rider of Berk" for the
"Margie has tremendous instincts when it comes to kids' programming, and we can't wait to unleash her creative force on DreamWorks' vast IP to bring exciting new content to families across the world," DreamWorks Animation Chief Operating Officer Ann Daly said in a statement.
DreamWorks Animation will hire several hundred people, mostly in Southern California, to work on the upcoming TV shows.
Joining Cohn as head of television production is TV veteran Mark Taylor, who was most recently at the helm of Nickelodeon Animation Studio.