Imax missed Wall Street’s third-quarter earnings projections due to what it called “a temporary slowdown in the Hollywood pipeline,” but edged revenue estimates thanks to a string of local-language blockbusters.
The company’s net loss of 5 cents a share, reported Monday, marked an improvement from 8 cents in the year-ago period, but was worse than the Street’s expectation for a 3-cents-a-share profit.
Revenue of $68.8 million climbed 21% over the year-earlier quarter and managed to beat analysts’ consensus outlook for $68.39 million.
A key revenue driver was gross box office, which increased 25% to $177.1 million, with nearly one-third of it coming from local-language fare.
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