DreamWorks Animation posts 26% revenue jump in first quarter
DreamWorks Animation, the Glendale studio behind the “Shrek” and”Kung Fu Panda” movies, saw its revenues jump 26% to $136.1 million in the first quarter.
The company said it earned a profit of $9.1 million, or 11 cents a share, the first quarter of the year, a 3% increase over last year, reflecting international ticket sales from the Shrek spinoff,”Puss in Boots.”The movie grossed $554 million worldwide since its release last October.
The results exceeded the consensus estimate among analysts, who had forecast a profit of 9 cents per share and revenues of $134 million.
Investors will be closely watching the performance of DreamWorks’ next release,”Madagascar 3: Europe’s Most Wanted,”which will debut June 8. The film will compete with Disney’s animated feature “Brave,” which will also hit theaters in June.
-- Richard Verrier, Los Angeles Times