The big picture keeps paying off for IMAX (NYSE:IMAX). The provider of supersized theatrical experiences posted robust growth on both ends of the income statement after Wednesday's market close, proving once again that folks are willing to pay a premium for a superior multiplex screening.

Revenue for the second quarter rose 12% to $98.345 million, as its growing base of theaters and improving box office per screen were more than enough to offset a slight dip in revenue from new installations this time around. Net income and adjusted net income grew even faster.

Scarlett Johansen as Ghost in the Shell in an IMAX spot.

Image source: IMAX.

Lights, camera, traction

Hollywood often gets a tip of the hat when IMAX is coming through with double-digit percentage growth, and the second quarter isn't any different. It's been a strong start to the summer as gross box office receipts from IMAX DMR films soared 27% during the quarter. IMAX got there with fewer releases on IMAX, as there were two fewer films running on the premium platform this quarter.

IMAX's theater business segment saw its revenue dip 6% as it had three fewer installations, but investors don't read too much into the decline. Installations will always be a lumpy business, and the more important takeaway is that the backlog of orders has actually increased over the past year. IMAX also inked more orders for new or updated screens during the quarter than it did a year earlier. 

The revenue mix for the quarter is welcome news for investors as the margins are meatier for IMAX's box office business than the hardware end. Gross and net margin naturally widened during the period. Adjusted earnings per share doubled to $0.30, and while that was partly the handiwork of aggressive share buybacks over the past year eating away at IMAX's share count, it still translates into a nearly 97% surge in adjusted net income. 

The growing popularity of IMAX showings with filmgoers isn't a fluke. This is the fifth consecutive quarter of year-over-year growth in box office receipts. The arrival of a cutthroat-priced MoviePass -- amassing 3 million subscribers to the monthly subscription service that excludes IMAX and other premium screenings -- hasn't gotten in the way. Last month's debut of AMC Stubs A-List that does include IMAX screenings and MoviePass promising to allow members the ability to pay a premium for IMAX in the near future can only help. 

Momentum is on IMAX's side. It has now rattled off four consecutive quarters of double-digit revenue growth. Box office tallies have continued to be generally strong this summer, and with movie subscription services embracing IMAX, the strength should continue in the near term.