Thursday, May 05, 2016

DreamWorks' Profits

So Jeffrey K's company (though not for much longer) does well in the earnings department.

... DreamWorks Animation just disclosed better-than-expected financial results for Q1 at a point when — with its $3.8 billion agreement to sell out to Comcast — the strong performance can’t really influence the stock price.

The studio reported a net profit of $13.8 million, up from a $54.8 million loss a year ago, on revenues of $190.4 million, up 14.4%. Analysts thought the sales number would be lower, at $182.6 million. Earnings at 16 cents a share were well above expectations for 1 cent. ...

And Jeffrey had this to say:

... A week ago, Comcast and NBCUniversal announced the acquisition of DreamWorks Animation. I believe the agreement not only delivers significant value for our shareholders, but also supports NBCUniversal's growing family entertainment business. As stated in the press release, the transaction is subject to a number of closing conditions including regulatory approval and Comcast expects the transaction to close by the end of 2016.

Between now and then, it is business as usual for us. I will continue leading the company and will be working diligently each and every day with our teams to ensure that we are executing towards our strategic goals. ...

So it is, as stated previously, "full steam ahead" and business as usual until January, 2017.


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