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Imax Q2 Sales, Profits Dip But Still Clobber Estimates On June Box Office Surge, Sale Of Original Doc ‘The Blue Angels’
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deadline.comImax saw softer revenue and profit last quarter but blew away Wall Street estimates citing a surge in global box office in June and a big bump from the sale of Imax original documentary The Blue Angels to Amazon.
The stock popped on the numbers, up nearly 4% in premarket trade. Sales fell 9% to $89 million for the three months ended in June but soundly beat consensus.
Ditto with adjusted ebitda (earnings before interest, taxes, depreciation and amortization) of $31 million (down 14%) and adjusted earnings per share of 18 cents (vs 26 cents in the 2023 quarter).
Its global box office of $196.4 million in Q2 after a June surge of hit releases accelerated momentum that has continued into Q3.
Read more on deadline.com
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