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GLENDALE — Dreamworks Animation SKG Inc. (DWA) on Thursday reported a loss of $54.8 million in its first quarter.
On a per-share basis, the Glendale, California-based company said it had a loss of 64 cents. Losses, adjusted for restructuring costs and pretax expenses, came to 25 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 43 cents per share.
The animation studio posted revenue of $166.5 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $174 million.
Dreamworks shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.06, a rise of slightly more than 8 percent in the last 12 months.
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