Dreamworks posts 3Q profit, results beat Wall Street forecasts

MarketsAssociated Press

Dreamworks Animation SKG Inc. (DWA) on Wednesday reported net income of $11.9 million in its third quarter.

The Glendale, California-based company said it had profit of 14 cents per share. Earnings, adjusted for non-recurring gains, were 10 cents per share.

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The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The animation studio posted revenue of $180.9 million in the period, which also topped Street forecasts. Analysts expected $168 million, according to Zacks.

Dreamworks shares have dropped 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.29, a drop of 16 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. DWA stock research report from Zacks.

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Keywords:Dreamworks,Earnings Report