DreamWorks reports loss due to "Mr. Peabody & Sherman"

April 29 Wed Apr 30, 2014 1:44am IST

Related Topics

Stocks

   

April 29 (Reuters) - DreamWorks Animation SKG Inc reported a first-quarter loss, compared with a year-earlier profit, as the company took an impairment charge related to the weak financial performance of the movie "Mr. Peabody & Sherman" released in early March.

The studio reported a net loss of $42.9 million, or 51 cents per share in the quarter ended March 31, compared with a profit of $5.6 million, or 7 cents per share, a year earlier. Revenue rose 9.3 percent to $147.2 million.

DreamWorks took a charge of $57 million due to the tepid performance of "Mr. Peabody & Sherman", a time-travel comedy about a talking genius dog and the boy he adopts. (Reporting By Lehar Maan in Bangalore; Editing by Ted Kerr)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.