"Madagascar 3" and "Puss in Boots" powered DreamWorks Animation to a strong third quarter
DreamWorks Animation breezed past analyst estimates with its third-quarter financial results, posting significant growth over last year thanks to “Madagascar 3” and “Puss in Boots.”
The company posted $186.3 million in total revenue and $24.4 million in profit, up from $160.8 million and $19.7 million in the same period last year.
"DreamWorks Animation's third quarter results were driven by the blockbuster international box office success of ‘Madagascar 3: Europe's Most Wanted,’ which has earned nearly $720 million at the worldwide box office to date, to become the fifth highest-grossing film of the year on a global basis," Jeffrey Katzenberg, CEO of DreamWorks Animation, said in a statement. "We are looking forward to the next major event film for the Company during the fourth quarter, the November 21st theatrical release of ‘Rise of the Guardians.’"
DreamWorks Animation stock is up about a point in after shares trading.
“Madagascar 3: Europe’s Most Wanted” accounted for 25 percent ($47.1 million) of the company’s $186. 3 in revenue. The film has grossed more than $700 million worldwide.
“Puss in Boots” accounted for $44.8 million of the revenue thanks to domestic and international pay TV deals, as well as home entertainment.
All of those fillms were distributed by Paramount through a deal between the two companies. "Rise of the Guardians," due out Nov. 21, will complete that arrangment.
Starting next year, Fox will distribute the company's films.