High-flying blockbusters like “Doctor Strange in the Multiverse of Madness” and “Top Gun: Maverick” lifted Imax earnings during the most recent fiscal quarter.
Revenue at the company famous for its immersive, wide screen technology increased 45 to 74 million, up from 51 million in the prior-year period. Despite the box office rebound, the company still operated in the red. Imax recorded a net loss of 2.9 million or 5 cents per share, which was an improvement on the net loss of 9.2 million or 16 cents per share that Imax reported in the year-ago quarter. Adjusted net income stood at 3.9 million or 7 cents per share. Gross margin improved to 44 million from 25.6 million in 2021
Imax’s revenue results beat Wall Street projections, but earnings per share missed the mark. Analysts expected Imax to record revenue of 73.7 million and adjusted earnings per share of 13 cents.
In the end, it all came down to the movies. With Covid concerns waning and safety restrictions lifting,...
Revenue at the company famous for its immersive, wide screen technology increased 45 to 74 million, up from 51 million in the prior-year period. Despite the box office rebound, the company still operated in the red. Imax recorded a net loss of 2.9 million or 5 cents per share, which was an improvement on the net loss of 9.2 million or 16 cents per share that Imax reported in the year-ago quarter. Adjusted net income stood at 3.9 million or 7 cents per share. Gross margin improved to 44 million from 25.6 million in 2021
Imax’s revenue results beat Wall Street projections, but earnings per share missed the mark. Analysts expected Imax to record revenue of 73.7 million and adjusted earnings per share of 13 cents.
In the end, it all came down to the movies. With Covid concerns waning and safety restrictions lifting,...
- 7/28/2022
- by Brent Lang
- Variety Film + TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.