DreamWorks Animation shares are up about 5.5% post-market after it delivered a mixed, but for the most part upbeat, Q3 earnings report. The studio generated $11.9 million in net income, +18.5% vs. the period last year, on revenues of $180.9 million, +17%. Revenues were short of the $182.7 million that analysts forecast. But earnings per share, at 14 cents, were well ahead of projections for 8 cents.
“Driving the Company’s third-quarter results is the blockbuster performance of How To Train Your Dragon 2, which has reached over $615 million at the worldwide box office to become the highest-grossing animated film of the year,” CEO Jeffrey Katzenberg says.
Dragon accounted for $74.2 million in revenue for the quarter – a little more than half of the $142.4 million in revenues for the feature film segment which also had a gross profit of $64.3 million. Turbo added $12.7 million in revenues while The Croods brought in $1.8 million, and Rise Of The Guardians contributed $3.5 million. Library titles accounted for $50.2 million.
Classic Media, the Netflix show Turbo F.A.S.T., and DreamWorks Dragons: Riders Of Berk on Cartoon Network helped the Television segment generate $14.3 million in revenue with $2.3 million in profit. Consumer products had $12.1 million in revenues and $4.2 million in profit.
We’ll live blog the company’s quarterly conference call with analysts which starts at 1:30 PT/4:30 ET. Check it out below.
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