China Strength Helps IMAX Thrive
Hollywood has a global influence on the entertainment industry, and increasingly, what happens overseas with the content that movie and television studios produce is more important than domestic results at the box office and with television ratings. For big-screen theater operator IMAX (NYSE: IMAX), international opportunities have driven much of its expansion, helping to supplement the solid results it generates domestically. In particular, China has been a fertile ground for entertainment content, and IMAX has worked hard to make the most of demand there.
Coming into Tuesday's second-quarter financial report, IMAX investors were looking forward to relatively flat performance in both sales and earnings. IMAX's results showed that the company is taking advantage of blockbuster movies in 2019, and it specifically attributed much of its recent success to the Chinese entertainment market.
Image source: IMAX.
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