What financial reports reveal about movie studios
Companies with movie studios have begun releasing their earnings reports for the latest quarter. It generally covers the April-June period, though some companies have fiscal quarters that depart from that.
Here’s a look at reports for selected movie industry companies.
— Tuesday: DreamWorks Animation SKG Inc. says net income fell 63 percent, to a level below analysts’ expectations. Revenue fell 25 percent. Results for the movie studio were driven by the box office receipts from the movie “Madagascar 3: Europe’s Most Wanted.” The movie has grossed more than $500 million in theaters worldwide since its June 8 release.
— Wednesday: Time Warner Inc. says revenue at its Warner Bros. studio fell 8 percent to $2.6 billion because last year’s quarter had strong releases. The blockbuster Batman movie “The Dark Knight Rises” didn’t open in theaters until the quarter ended. In the second quarter last year, Time Warner Inc. had “The Hangover Part II” in theaters and the next-to-last Harry Potter movie on home video.
Comcast Corp. says its Universal movie studio lost money on its would-be summer blockbuster, the expensive and critically skewered “Battleship.” Revenue in the filmed entertainment division fell 2 percent to $1.2 billion.
Coming up:
— Thursday: Sony Corp.
— Friday: Viacom Inc. (Paramount)
— Aug. 7: The Walt Disney Co.
— Aug. 8: News Corp. (20th Century Fox)