Marvel's Q2 profit jumps 52%
Earnings increase on film licensing, presales
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Revenue surged 55% to $156.9 million for the period ended June 30, prompting the company to raise its full-year guidance for revenue. Despite the strong quarterly numbers, however, the guidance did not impress several key Wall Street analysts. Marvel shares took an 11.5% hit in trading Tuesday to close at $31.19.
Execs noted that the two superhero pics' socko B.O. -- $817 million worldwide combined -- did not factor into earnings because of the timing when distribs Paramount and Universal book those revenues.
Marvel boosted its full-year guidance for revenue to $450 million to $480 million, up from $370 million to $400 million, and also upped its operating net projection to $122 million-$138 million from $104 million-$122 million. The revision of the company's May guidance was due to the strong performance of company-produced films.
The film unit is expected to kick in revenues ranging from $65 million to $80 million and yield margins in the 8% to 18% range.
