EARNINGS ROUNDUP / MARVEL
Marvel Entertainment Inc. topped Wall Street projections with its fourth-quarter results, saying net income more than doubled on strong DVD sales of the film “Iron Man.”
The company posted a profit of $63 million, or 80 cents a share, compared with $27.6 million, or 35 cents, a year earlier.
Analysts were looking for 70 cents a share, according to a Thomson Reuters poll.
Sales beat expectations as well, climbing to $224.3 million from $109.3 million a year ago, compared with the average forecast of $213.5 million.
Marvel said its movie business contributed $135.5 million in revenue, mainly from the “Iron Man” DVD sales.
Marvel shares gained $3.63, or 15.2%, to $27.55.