Imax’s Q1 Box Office Record Pushes Revenue to $86.9 Million, Beating Wall Street Projections
thewrap.comquarterly earnings report.Imax reported quarterly revenue of $86.9 million and earnings of $5.1 million or 4 cents per share on a diluted basis and 16 cents per share on an adjusted basis.
That beat Wall Street projections of $77.5 million in revenue and adjusted EPS of 15 cents per share, according to analysts surveyed by Zacks Investment Research.
The total is also a 45% boost from the $60 million in revenue earned in the first quarter of 2022, when Imax reported an adjusted loss of 14 cents per share.
The three months of 2023 saw a variety of Hollywood films contribute to Imax’s record success, including the holdover weekends of “Avatar: The Way of Water” in January as well as films like “Ant-Man and the Wasp: Quantumania” and “Creed III.”But 31% of Imax’s quarterly box office came from films produced outside the United States, with $61.3 million alone coming from Imax screens in China during the Lunar New Year festivities.
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