Why IMAX Shares Jumped More Than 16% Today Anders Bylund
What happened
IMAX (NYSE: IMAX) lit up the silver screen on Friday, rising as much as 16.6% on a day when most stocks took a deep dip instead. The provider of larger-than-life cinema experiences crushed Wall Street s revenue estimates in Thursday night s fourth-quarter earnings report.
So what
In the fourth quarter, IMAX s total revenue fell 55% year over year to $56 million. Your average analyst had expected an even deeper plunge to approximately $47 million. This was technically a mixed report because the bottom line showed a net loss of $0.21 per share, slightly worse than the Street s projected loss of $0.20 per share. Investors shrugged off the mild earnings miss to focus on a huge revenue surprise instead.
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Snabbladdare är som en Ericsson-telefon, elvägar som en Iphone
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Author Bio
Anders Bylund is a Foolish Technology and Entertainment Specialist. Where the two markets intersect, you ll find his wheelhouse. He has been an official Fool since 2006 but a jester all his life.
Hypoallergenic. Contains six flavors not found in nature. Believes in coyotes and time as an abstract.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.
I just felt a great disturbance in the anime world. Leading anime video-streaming service Crunchyroll is merging with rival streaming platform Funimation in a deal worth $1.175 billion.