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’
Trending Now on Deadline
Ryan Murphy & His 'Glee' Co-Creators Get Fox Series Order For Comedy-Horror Anthology 'Scream Queens'
Alamo Drafthouse's Tim League: Make A Place For Christopher Nolan, Quentin Tarantino, And Film Stock In Digital Future
FINAL: 'Fury' Wins Box Office War With $23.7M; 'Book Of Life' At $17M; 'Gone Girl' $100M+; 'Best Of Me' $10M - B.O. Final
More From Lieberman
- Apple Beats Earnings Expectations With Help From iPhones, But Not iPads
- How The New York Times Missed The Story About HBO, CBS, And The Web
- Movie Ticket Outlays Averaged $8.08 In Q3, Up 3.1% From Last Year
- Fox And Tribune Call Off Their NFL-Related TV Battle For Seattle
- Google Shares Slip After It Misses Q3 Earnings Expectations
- CBS Launches $5.99-A-Month Subscription Streaming Service