DreamWorks (DWA) Stock Jumps on Earnings Beat
NEW YORK (TheStreet) -- Shares of DreamWorks Animation (DWA) are up by 12.07% to $22.65 in mid-morning trading on Friday, following the release of the company's third quarter earnings results on Thursday after the close.
The Glendale, CA-based animated film studio reported a third quarter net loss of $3.5 million, after reporting a profit in the year ago period, or a profit of 2 cents per share on an adjusted basis.
Analysts on average were expecting the company to report a net loss of 4 cents per share.
Revenue for the period was $259.2 million versus analysts' $215.1 million forecast.
Separately, TheStreet Ratings team rates DREAMWORKS ANIMATION INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
We rate DREAMWORKS ANIMATION INC (DWA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.
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