- Associated Press - Tuesday, October 26, 2010

LOS ANGELES (AP) - DreamWorks Animation SKG Inc. said Tuesday that its third-quarter earnings doubled thanks to the international box office results from “Shrek Forever After.”

Net income hit $39.8 million, or 47 cents per share. A year earlier, it was $19.6 million, or 23 cents per share.

Revenue rose 39 percent to $189 million, from $135 million a year ago.

Analysts surveyed by Thomson Reuters forecast a profit of 35 cents per share on revenue of $163 million. Analysts typically exclude one-time items.

Although DreamWorks isn’t the largest movie studio, it is the earliest to report quarterly results, which give a glimpse into how consumers are spending their entertainment dollars.

DreamWorks has said 2010 will be its best year ever. Its third movie of the year, “Megamind,” will be widely released in the U.S. on Nov. 5.

Shares of the company, based in Glendale, Calif., rose $1.23, or 3.6 percent, to $35.61 in after-hours trading Tuesday, after closing up $1.14, or 3.4 percent, at $34.36.


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