DreamWorks Animation SKG Inc. said it took a $57-million write-down for its latest animated feature, "Mr. Peabody & Sherman," after the movie's weak box-office performance.
The write-down contributed to the Glendale studio's net loss of $42.9 million, or 51 cents a share, on revenue of $147.2 million in the first three months of this year. That compares with a profit of $5.6 million, or 7 cents, on revenue of $134.6 million in the year-earlier period.
The results were far worse than analysts' projections for a loss of 14 cents a share in the quarter.
"Mr. Peabody & Sherman," which was released March 7, has grossed $261 million at the worldwide...