Imax beat Wall Street estimates with its Q2 2024 earnings report, but even the consistent premium format company couldn’t avoid a 9% year-over-year drop in revenue — down to $89 million — thanks to the historically low box office business that kicked off the summer season. Still, the company’s stock popped on Thursday’s earnings, rising over 5% in pre-market trading.
Here are the topline results:
Earnings Per Share: EPS for Imax reached 7 cents per share, on par with Zacks Investment Research’s estimates.
Net Income: Net income was $3.6 million, down 57% from the same frame last year when net income hit $8.4