DreamWorks Animation sales fall sharply

DreamWorks Animation sales fall sharply

PanARMENIAN.Net - DreamWorks Animation quarterly results missed analysts' estimates as sales fell sharply, sending its shares down 8 percent in after-market trading on Tuesday, July 31, TheWrap said.

Net income for the second quarter fell to $12.8 million, or 15 cents per share, from $34.1 million, or 40 cents per share, a year earlier.

Analysts were expecting earnings of 25 cents per share, according to Thomson Reuters.

Revenue fell 25 percent to $162.8 million, below analysts' expectations of $186.2 million.

DreamWorks' most recent movie, "Madagascar 3: Europe's Most Wanted," contributed about $54.8 million to its quarterly revenue.

"Puss In Boots" brought in $22.8 million, driven primarily by home entertainment, while "Kung Fu Panda 2" accounted for $46.4 million, backed mainly by U.S. domestic pay television.

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