Imax Quarterly Revenues, Profits Rise Thanks to ‘Super Mario,’ ‘Spider-Man: Across the Spider-Verse’
variety.comBrent Lang Executive Editor There’s nothing like some superhero flicks and family friendly blockbusters to turn things around at the box office.
Revenues and profits at Imax jumped during the second quarter thanks to the commercial success of “Spider-Man: Across the Spider-Verse,” “Guardians of the Galaxy Vol.
3” and “The Super Mario Bros. Movie.” For the three-month period ending in June, revenue jumped 38% to $98 million, while profits topped out at $8.4 million or 15 cents a share, up from a loss of $2.9 million or 5 cents a share in the prior-year period.
Elsewhere on the balance sheet, gross margins improved 31% to $57.9 million, while adjusted EBITDA climbed 29% to $32.8 million. “Imax continues to be a winner in a dynamic global marketplace for entertainment, as demonstrated by our strong results in the second quarter,” said Richard L.
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