The privately held studio says that revenues were up across all of its core businesses, but singled out contributions from the international release of home videos for The Hobbit: An Unexpected Journey and the James Bond film Skyfall. The year over year results are slightly skewed by the $55.7M it recorded from a television asset sale in 2012. With that included, net income came in at $35.9M, -16% vs the period last year, on revenues of $339M, +164%. Without the asset sale, net income would have been up $30M in Q2. Although the studio had no new movies in theaters, worldwide theatrical revenue came in at $6.6M, +267%, as Unexpected Journey — released in December — finished its run. Worldwide home entertainment revenues were up 533% to $179.9M. And worldwide television licensing revenues rose 71% to $121.2M with VOD sales for Skyfall and ongoing sales for Vikings. MGM’s upcoming releases include Carrie (with Sony) and The Hobbit: The Desolation Of Smaug (with Warner Bros.). Last month the company increased its credit facility by $100M, enabling it to tap as much as $750M.
MGM Reports Q2 Growth With Help From ‘Hobbit’ And ‘Skyfall’
What's Hot on Deadline
Is Melissa McCarthy The Best R-Rated Comedienne Ever? She Makes Her Case In Red Band 'The Boss' Trailer
'The Brothers Grimsby': Trailer Or Titillating Clip "Shown" On 'Jimmy Kimmel Live' – Which Works Better?
Latest Business News
- Bill Cosby Fights Again To Stop Sexual Assault Case Moving Forward
- Will Hollywood’s Flood Of Franchises Beat ‘Star Wars’-Fueled 2015 Toy Sales?
- Will Smith & Alan Horn Join Obama & Katzenberg For Private L.A. Dinner – Update
- Samantha Bee Vs. The Guys On Late Night, Plus: The Coming Tony Awards Wars? – Gerard & Roth
- Hot Berlin Titles: What Buyers Are Buzzing About At The EFM
- Obamageddon Is In Effect As POTUS Arrives In L.A. For ‘Ellen’ & Fundraisers – Update