DreamWorks financial report astonished markets later today by *better-than-expected profit and sales.
(*Analysts polled by FactSet had expected the animated company to report breakeven results on sales of $183 million in the Q).
It earned approximately $13.8 million – i.e. 16 cents/share within 1Q | in comparison to a loss worth 64 cents/share during the same time period, a year prior.
As for revenue, it reached $190.4 million within quarterly rating – bullish worth 14% from $166 million in the same time duration during 2015.
“I am happy to report another strong quarter of financial results, which I believe reflect continued execution on our strategy of transitioning DreamWorks Animation into a global family entertainment company.” – Chief Executive Jeffrey Katzenberg
UPDATE: During TRADING, shares of DreamWorks were flat after ending the regular session down 0.2%.
INSIGHT: DWA has 19 animated television shows in production alongside blockbuster film franchises like Shrek and Kung Fu Panda. Also, It has a distribution deal with 20th Century Fox that runs out at the end of 2017. In 2013, it bought Awesomeness TV and signed a multiyear deal to provide original content to Netflix.
EXCLUSIVE: Presently, an ongoing discourse is being held between DreamWorks and Comcast (NASDAQ: CMCSA). According to sources’ info to The Hollywood Reporter, the acquisition of Glendale animation company is set out worth $3 billion. DWA would flourish more rapidly following deal accomplishment in expanding with larger entertainment *conglomerate diameter. Furthermore, the deal might unveil impressive prospects for investors who have continued investing in a 2.3 billionaire company.
