Marvel Beats Street In Quiet 2nd-Quarter

Marvel Entertainment didn’t release any self-financed pics this quarter. But the comic book publisher and licensor and movie studio posted 2nd-quarterly profits that beat market estimates. The company said it benefited from growth at its film production segment, primarily in initial revenue for Iron Man DVD sales and domestic pay TV window. But Marvel’s profit fell 38% after a decline in licensing sales for toys and character-related products following its Iron Man and Incredible Hulk bonanzas. Marvel’s 2nd-quarter revenue fell 26%, and net income fell. But Marvel also raised the low end of its full-year profit and sales forecasts with Iron Man 2 coming out in 2010. “Marvel’s solid operating results reflect the strength of our core businesses supported by the growing global exposure of our corporate and character brands,” chairman Morton Handel said in a statement.

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