While DreamWorks Animation’s latest film, Home, raised the company’s quarterly revenues, the continued reconstruction at the studio resulted in a net loss for the period.
DreamWorks has struggled financially, causing it to lay off hundreds and sell its Glendale headquarters after the financial flop of several of its films. Home helped the company, making $386 million globally. This resulted in a nearly 40% increase in revenues on the film from last year when the company made a loss with Mr. Peabody and Sherman.
However, the studio made a net loss of $38.6 million, over double what the net loss was a year ago.
So in the end, once all costs and revenues are adjusted (and other confusing financial terms), the company only lost $1 million this past quarter. So, although the company is struggling, it is slowly cleaning itself up, financially speaking. “While there is still much work to be done, I’m really proud of what our team has accomplished this quarter,” said DreamWorks Animation CEO Jeffrey Katzenberg.
Do you think there is still hope for DreamWorks?
Edited by: Hannah Wilkes