zdask
Home
/
Business
/
Box Office Recovery Lifts Imax As Quarterly Revenue Rises
Box Office Recovery Lifts Imax As Quarterly Revenue Rises-April 2024
Apr 26, 2025 12:40 AM

Imax released its fourth quarter earnings on Wednesday and posted higher net earnings on rising overall revenues.

That came as tentpoles likeGladiator II, Venom: The Last Dance and Mufasa: The Lion King performed best on its screens during the latest financial period. A year earlier, Imax had Aquaman and the Lost Kingdom, Taylor Swift: The Eras TourandWonkaon the cinema technology companys big screen network.

Overall fourth-quarter revenue came to $92.7 million, up 8 percent from a year-earlier $86 million. Amid abox officerecovery for Hollywood coming out of the pandemic, Imax is looking to leverage increasing demand for new and upgraded theater systems worldwide. The large-format exhibitor recorded net income of $5.2 million, which compared to a profit of $2.5 million in the same period last year. During the latest quarter, the adjusted per-share profit in Q4 came to 27 cents, a sharp improvement from year-earlier per-share profit of 11 cents.

For full-year 2024, Imax reported installing 146 new and upgraded Imax systems worldwide, at the high end of earlier guidance of 120 to 150 systems. In 2025, Imax said it expects to deliver a record box office of more than $1.2 billion and system installations of 145 to 160.

In 2024, Imax further strengthened its position at the center of global entertainment, expanding the roster of filmmakers working with our technology, strengthening our studio marketing, hitting the high-end of our installation guidance, and innovating to expand our programming including our deal with Netflix for the release of Greta Gerwigs Narnia across the Imax global network in advance of its debut on the service, Imax CEO Richard Gelfond said in a statement ahead of a post-market analyst call.

Comments
Welcome to zdask comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Business
Copyright 2023-2025 - www.zdask.com All Rights Reserved