DreamWorks Animation (NASDAQ:DWA) might be getting ahead of itself. I'm not talking about the stock, which understandably jumped 15% since the company's third-quarter earnings announcement made it clear that its Turbo film wouldn't force a huge writedown like Rise of the Guardians did last year.

But, when CEO Jeffrey Katzenburg said in the earnings release that DreamWorks has "now transitioned into a global, diversified family entertainment company," it sounded a bit premature. Sure, DreamWorks is finding big new profit streams, particularly with streaming deals with Netflix (NASDAQ:NFLX). However, the company has a long way to go if it wants to remake itself into a diversified entertainment company that, like Disney (NYSE:DIS), can take a huge box-office flop in stride.

See more in the following video.