There’s nothing like some superhero flicks and family friendly blockbusters to turn things around at the box office. Revenues and profits at Imax jumped during the second quarter thanks to th…
.” For the three-month period ending in June, revenue jumped 38% to $98 million, while profits topped out at $8.4 million or 15 cents a share, up from a loss of $2.9 million or 5 cents a share in the prior-year period. Elsewhere on the balance sheet, gross margins improved 31% to $57.9 million, while adjusted EBITDA climbed 29% to $32.8 million.
“Imax demonstrated its ever-strengthening position at the vanguard of cinema,” Gelfond told analysts on Wednesday. “The paradigm shift to Imax has never been more apparent.” “Increasingly, it’s clear the future of the movie business is Imax,” Gelfond said, adding that Imax’s premium screens helped turn “Oppenheimer” into “a cultural event.”
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