Shares of IMAX (NYSE:IMAX) gained 10.3% in February, according to data from S&P Global Market Intelligence. No mystery or surprises here: The maker of immersive cinema experiences simply posted stellar results in the fourth quarter.
IMAX's fourth-quarter revenue fell 13% year over year to $109 million, but still crushed Wall Street's consensus target at $101 million. On the bottom line, earnings fell 35% to $0.26 per share. Here, your average analyst would have settled for $0.24 per share. Looking ahead, IMAX is staring down a massive slate of exactly the kind of action-packed blockbusters that seem to work best on oversized screens with immersive speaker systems.
Check out the latest earnings call transcript for IMAX.
The company is expanding quickly in China and should probably send a fruit basket to the headquarters of Walt Disney (NYSE:DIS) since the upcoming run of blockbusters is built on the House of Mouse's Marvel and Pixar platforms. For example, Captain Marvel just bowed to a $36 million opening weekend on IMAX screens. That's the fifth biggest opening in IMAX history and the best March showing in any year. Those numbers should fall next month, making way for the next Avengers title. More Marvel, more Disney.
It's no surprise to see IMAX shares jumping based on this brawny earnings report.
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