How IMAX is Crushing the Rest of the Movie Industry
Hollywood has been plagued by a weak slate of movies this year and with the exception of a few big blockbusters, theatergoers have been staying home. Overall box office revenue has declined by 5% so far in 2017, and shareholders of theater stocks have been feeling the pinch. In the last six months, shares of IMAX Corporation (NYSE: IMAX) have given up a third of their value.
When IMAX reported its financial results last week, investors were looking to see if audiences were returning to theaters, and whether the plan the company announced last quarter to cut unnecessary expenses was making headway. IMAX did not disappoint.
IMAX tops industry results. Image source: IMAX.
Source: Fool.com
Imax Corp. Stock
€15.50
-4.910%
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