说多了都是泪 NEW YORK (TheStreet) -- Only two days after receiving top honors from the White House,DreamWorks (DWA_) CEO Jeffrey Katzenberg is not winning much favor on Wall Street. Shares of the movie studio he has helmed for a decade are tanking 12.3% to $19.88 on Wednesday after reporting net losses of 18 cents a share, far wider than analysts* estimates of a loss of 2 cents a share.
Weaker-than-expected box office performance over the three months to June marks the second consecutive quarter of disappointing results, a trend which has sent the stock cratering 42.9% in the year to date (compared to the S&P 500*s 6.9% gain). Quarterly revenue of $122.3 million tumbled nearly 43% year over year and fell short of expectations of $138.5 million.
Disappointing results are being compounded by news the company is currently under SEC investigation for a $13.5 million write-down it took in February for Turbo. The 2013 summer family flick, which followed the adventures of snail with super-speed, flopped
Weaker-than-expected box office performance over the three months to June marks the second consecutive quarter of disappointing results, a trend which has sent the stock cratering 42.9% in the year to date (compared to the S&P 500*s 6.9% gain). Quarterly revenue of $122.3 million tumbled nearly 43% year over year and fell short of expectations of $138.5 million.
Disappointing results are being compounded by news the company is currently under SEC investigation for a $13.5 million write-down it took in February for Turbo. The 2013 summer family flick, which followed the adventures of snail with super-speed, flopped
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