“DreamWorks Animation Revenue Jumps 40% on “Home” Run

“Hollywood studio DreamWorks Animation SKG Inc reported a bigger-than-expected 40 percent jump in quarterly revenue, boosted by the box-office success of “Home” and strength in its business of providing television content.

The company said on Tuesday it earned $23.9 million in the second quarter ended June 30 from “Home”, which released on March 27.

The movie – its only release of the year – had one of the best openings for an original movie made by DreamWorks, pulling in $54 million in its opening weekend.

“Home”, starring singer Rihanna, Jennifer Lopez and Emmy-award winning actor Jim Parsons, grossed about $386 million worldwide as of Aug. 2, according to Box Office Mojo, a website that tracks theater ticket sales.

The movie, based on Adam Rex’s children’s book “The True Meaning of Smekday”, tells the story of how Earth is taken over by an alien race named Boov as they search for a new home.

This success marks a turnaround for the film studio, which took impairment charges related to the performance of “The Penguins of Madagascar” and “Mr. Peabody and Sherman”, as well as certain other titles and investments in the quarter ended December…”

http://finance.yahoo.com/news/dreamworks-animation-revenue-jumps-40-220702211.html

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