DreamWorks profit drops 55%
From Times Wire Services
DreamWorks Animation SKG Inc. said second-quarter profit declined 55% as “Kung Fu Panda” collected about half the ticket sales of last year’s “Shrek the Third.”
Net income fell to $27.5 million, or 30 cents a share, from $61.8 million, or 60 cents, a year earlier, the Glendale company said. Excluding a tax benefit, profit of 28 cents a share topped the 23-cent average of analysts’ estimates.
DreamWorks Animation shares rose 50 cents to $31.29.
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.
