Marvel Entertainment Inc. (MVL) Beats the Street
Marvel Entertainment Inc., the company behind the "Spider-Man" and "Fantastic Four" movie franchises, said Monday third-quarter earnings nearly tripled, driven by licensing revenue from "Spider-Man 3" toys and games.
Net income jumped to $36.3 million, or 45 cents per share, from $13.2 million, or 16 cents per share, in the year-ago period.
The result surpassed estimates on Wall Street, where analysts expected a profit of 28 cents per share, according to Thomson Financial.
Sales rose 34 percent to $123.6 million from $92.2 million last year and beat Wall Street estimates for $91 million. Licensing sales more than doubled to $66 million. Marvel's joint venture with Sony Corp. to license the third installment of the "Spider-Man" series delivered $24.2 million to the total.
Net income jumped to $36.3 million, or 45 cents per share, from $13.2 million, or 16 cents per share, in the year-ago period.
The result surpassed estimates on Wall Street, where analysts expected a profit of 28 cents per share, according to Thomson Financial.
Sales rose 34 percent to $123.6 million from $92.2 million last year and beat Wall Street estimates for $91 million. Licensing sales more than doubled to $66 million. Marvel's joint venture with Sony Corp. to license the third installment of the "Spider-Man" series delivered $24.2 million to the total.
Labels: Marvel Entertainment Inc., MVL
posted by Stock Administrator @ 3:00 PM
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