A Blockbuster Summer Lifts IMAX to Record Heights
Summer is a pivotal time for the movie industry, and big-screen theater specialist IMAX (NYSE: IMAX) often sees its fortunes rise and fall depending on the health of Hollywood. Although domestic box office figures still play a major role in IMAX's results, those who follow the stock have increasingly seen the influence that foreign markets have had on the growth trajectory for the theater operator. Even as conventional theater operators have struggled with competition from home-viewing options, IMAX has sought to set itself apart by offering more immersive theater experiences.
Coming into Thursday' third-quarter financial report, IMAX investors expected that what they saw as a slow summer would be evident in the company's numbers. Yet IMAX reported its best third-quarter global box office figures in its history, defying the slump in the U.S. and getting and big boost from its international presence. Let's take a closer look at IMAX's latest results and what they say about its future.
Image source: IMAX.
Source: Fool.com
Imax Corp. Stock
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