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‘Inside Out 2’ Helps Imax Beat Wall Street’s Quarterly Earnings Projections
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variety.com
variety.comBrent Lang Executive Editor “Inside Out 2” helped lift Imax‘s quarterly earnings, but a slower start to summer blockbuster season took a bite out of the company’s profits and revenues.
The big screen company logged $89 million in revenue for the three-month period ending in June, down 9% from the $98 million it reported in the prior-year quarter.
Net income stood at $3.6 million, a 56% drop from the $8.4 million that Imax delivered in the year-ago period, while earnings per-share hovered at 18 cents, a 36% decline from the 26 cents that the company reported in the prior-year quarter.
Adjusted EBITDA declined 14% to $31 million, down from $34 million in the year-ago period. Despite the declines, Imax trounced Wall Street’s estimates.
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