DWA shares drop twelve percent

Shares of DreamWorks Animation walked 12.16% to $17.26 Wednesday, one of the finest nonwinners round the Nasdaq as well as the stock's finest one-day visit a long time, after dour quarterly earnings and negative comments on Wall Street. The studio introduced Tuesday after market close that profits walked greater than 70% to $24 million from $85 million on lower home video sales, plus a disappointing performance of "Kung Fu Panda 2" released in December. Goldman Sachs decreased its earnings estimations round the Glendale, Calif. company and experts were concerned at rising costs together with as well as much softer home cinema sales, which Boss Jeffrey Katzenberg mentioned reflect "challenges for your industry as whole." But DreamWorks only releases two or three films yearly and isn't part of a bigger company, which causes it to be particularly prone to fluctuations in key revenue streams. The shares were inside the doghouse for a number of 2011 combined with started a rocky climb this year. Captured it introduced a greater-profile partnership to create animated photos in China. Contact the number newsroom at news@variety.com