GLENDALE, CALIF. (AP) - DreamWorks Animation SKG Inc. says its second-quarter net income fell 63 percent, to a level below analysts’ expectations. Shares drop 7 percent in after-hours trading.
Net income in the three months to June 30 was $12.8 million, or 15 cents per share, compared with $34.1 million, or 40 cents per share, a year ago.
Revenue fell 25 percent from a year ago to $162.8 million.
Analysts polled by FactSet were looking for 25 cents per share of earnings on revenue of $185 million.
Results for the movie studio were driven by the box office receipts from the movie “Madagascar 3: Europe’s Most Wanted.” The movie has grossed more than $500 million in theaters worldwide since its June 8 release.
Shares of the Glendale, Calif., company are down $1.32 to $17.88 after the report’s release. They had closed up 2 cents to $19.20 in regular trading.
By Elaine Donnelly
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