IMAX Stock Has a Lot to Prove on Wednesday
There hasn't been a Hollywood ending for IMAX (NYSE: IMAX) investors. The provider of enhanced theatrical experiences hit a four-year low last week, and the pessimism comes just as IMAX is about to report fresh financials.
IMAX reports second-quarter results after Wednesday's market close, and Wall Street isn't holding out for growth. Analysts see revenue slipping 3% to $89.3 million. Top-line slides aren't new. IMAX is at the mercy of studios putting out blockbusters on its super-sized platform to drive ticket sales, and revenue has slipped in three of the past four quarters. The market's holding out for a profit of $0.14 a share, less than the $0.18 a share it rang up a year earlier. It would be IMAX's fifth straight quarter of shrinking net income.
Source: Fool.com