Marvel Earnings Drop on Lower Movie Activity
Marvel Entertainment (MVL) said third quarter earnings declined to $20.4 million, or 26 cents per share, as compared to $50.6 million, or 64 cents per share, in the same quarter last year. This quarter’s results did beat analyst estimates.
Tuesday, November 3, 10:34 AM ET
Sales for the quarter dipped to $105.7 million, as compared to $182 million in the same quarter last year, when the company had a higher level of feature film and licensing activity.
Disney (NYSE:DIS) announced in August that it would acquire Marvel and its stable of characters and brands- including Spiderman, Iron Man, The Incredible Hulk and the X-Men – and the deal is still expected to close by the end of the year.
For MarketNewsVideo.com, I'm Sayoko Murase.