DreamWorks Animation nets $136.1 million in revenue thanks to "Puss in Boots"
The box office performance of "Puss In Boots" propelled DreamWorks Animation's 1Q earnings past analysts' forecasts as the company looks to the "Madagascar" franchise for continued profits.
DreamWorks Animation reported first quarter revenue of $136.1 million and earnings per share of $0.11. The street had predicted $134.3 million in revenue and $0.09 earnings per share.
"DreamWorks Animation's first quarter of 2012 was driven primarily by 'Puss in Boots' continued success at the international box office and the solid performance from its home video release to date," Jeffrey Katzenberg, CEO of DreamWorks Animation, said in a statement.
The "Shrek" offshoot has grossed $554 million at the worldwide box office.
"Kung Fu Panda 2" and "Megamind" also added to the revenue total through home entertainment and international pay TV.
DreamWorks Animation distinguishes between its active film slate, its library and "other," which includes stage versions of its movies. The library accounted for $27 million in revenue this quarter, when the company did not release any new titles.
Katzenberg projected big numbers for "Madagascar 3" this summer, noting that last year's crop of animated and family movies was much deeper.