‘Shrek’ helps DreamWorks post a profit
- Share via
DreamWorks Animation SKG Inc. said Tuesday that it swung to a profit in the fourth quarter as revenue rose 42% from a year earlier, led by the blockbuster performance of “Shrek the Third.”
The Glendale-based company said net income rose to $94.1 million, or 98 cents a share, compared with a loss of $21.3 million, or 20 cents, a year earlier. Revenue reached $290.2 million.
Analysts polled by Thomson Financial, on average, expected the company to post earnings of 72 cents a share on revenue of $277 million.
DreamWorks shares rose 55 cents to $24.44 before the earnings were announced. They climbed an additional $1.05, or 4.3%, in after-hours trading.
DreamWorks’ “Bee Movie,” which was released Nov. 2, was considered by analysts to be a box office disappointment, taking in $126.6 million in the U.S. and $285.2 million worldwide.
Chief Executive Jeffrey Katzenberg said the profitability of “Bee Movie” would rest largely on its success when it is released on DVD next month.
More to Read
The biggest entertainment stories
Get our big stories about Hollywood, film, television, music, arts, culture and more right in your inbox as soon as they publish.
You may occasionally receive promotional content from the Los Angeles Times.