DreamWorks Animation posts jump in 1Q net profit
LOS ANGELES—DreamWorks Animation SKG Inc. says its first-quarter net profit grew 69 percent from a year ago thanks to revenue from "Bee Movie" and "Shrek the Third."
The company on Tuesday posted net earnings of $26.1 million, or 28 cents per share, up from $15.4 million a year ago.
Revenue rose 67 percent to $156.6 million from $93.7 million a year earlier.
The results beat the expectations of Wall Street analysts, who were looking for net profit of 22 cents per share on revenue of $127 million, according to Thomson Financial.
Shares of Glendale, Calif.-based DreamWorks Animation fell nearly 2 percent at $25.71 before the results were announced.
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