LOS ANGELES ? DreamWorks Animation SKG Inc. says its net income fell by half in the third quarter as its early summer release "Kung Fu Panda 2" did not haul in as much at the box office as last year's "Shrek Forever After."
The company said Tuesday that net income in the three months to Sept. 30 fell to $19.7 million, or 23 cents per share, from $39.8 million, or 47 cents per share, a year ago.
Analysts polled by FactSet were looking for adjusted earnings of 20 cents per share.
Revenue dropped 15 percent to $160.8 million from $188.9 million a year ago. That was slightly better than the $159 million expected by analysts.
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