DreamWorks Animation Profit Tops Estimates; Stock Up - Quick Facts

(RTTNews) - DreamWorks Animation SKG Inc. (DWA) Wednesday reported second-quarter net income of $22 million or $0.26 per share, an increase from $13 million or $0.15 per share last year.

Revenues for the quarter were higher at $213.4 million, compared with $163 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.20 per share on revenues of $189.70 million for the quarter.

"DreamWorks Animation significantly outperformed in the second quarter, thanks primarily to The Croods' incredibly successful box office run, where it has amassed $584 million worldwide to become the fifth highest grossing movie of the year," said CEO Jeffrey Katzenberg.

"We also have a great deal of momentum within our television, consumer products and location-based entertainment businesses today," added Katzenberg.

The company expects third-quarter results to be driven by worldwide pay television revenue for Rise of the Guardians and international free television for Kung Fu Panda.

The company's stock closed Wednesday at $24.76, up $0.47 or 1.93%, on a volume of 1.5 million shares on the Nasdaq. In after hours, the stock gained $1.44 or 5.82%.