DreamWorks Animation’s stock went up an eye-popping 25% today, the day after the company reported its best-ever first quarter earnings.
The company’s Q1 profit more than doubled from the same period last year thanks to the strong performance of Madagascar 2 at the box-office and on DVD. The DVD sold 6.7 million units between its release on February 6 and the end of the quarter, defying the overall downturn in DVD sales.
But the company’s shareholders haven’t been able to enjoy DreamWorks success until recently. Until it turned around in mid-March, the stock had fallen from a high of $26.18 a share on January 2 to $18.02 a share on March 9. The stock finished today at $23.87 a share.
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