Friday, July 31, 2009

DreamWorks Animation gets a kick from 'Kung Fu Panda'

DreamWorks Animation SKG Inc. blew past analyst estimates in the second quarter on continued strength from its animated feature "Kung Fu Panda."

In the quarter, the company earned $25.6 million, or 30 cents per share, which includes a gain of 10 cents a share after an agreement with Activision Blizzard that allows the company to recognize revenues from video games earlier.

Excluding the estimate, the earnings per share still beat analyst estimates of 13 cents a share.

In the second quarter a year ago, the company earned $27.5 million, or 30 cents a share.

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