DreamWorks Animation Climbs After Q2 Beat (DWA)

DreamWorks Animation (NYSE: DWA) released its fiscal second-quarter earnings results after the closing bell on Wednesday.

The company reported both earnings per share and revenue that came in ahead of Wall Street expectations. In late trade, the stock was last up better than five percent to $26.09.

Management Commentary

"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 Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. "We also have a great deal of momentum within our television, consumer products and location-based entertainment businesses today, as DreamWorks Animation continues to diversify and evolve into a branded family entertainment company."

Related: Stocks little changed on Wednesday after FOMC statement.

Q2 Financial Results

DreamWorks reported second-quarter net income of $22 million or $0.26 per share, compared to $13 million or $0.15 per share, in last year's fiscal second-quarter. This easily beat analysts' consensus EPS estimates of $0.20.

Revenue in the period was $213.4 million from $163 million last year. This also came in well ahead of analysts' consensus revenue expectations of $189.70 million.