Why IMAX Corp. Stock Soared Today

Shares of big-screen cinema technologist IMAX (NYSE: IMAX) jumped as much as 11.9% higher on Thursday, reaching that peak near 1:10 p.m., EDT. The company reported third-quarter results in the early morning, blowing away analyst targets across the board.

In the third quarter, IMAX saw revenues rising 35% higher year over year, landing at $98.8 million. Adjusted earnings stopped at $0.08 per diluted share, down from $0.12 per share in the year-ago period. Analysts would have settled for earnings of $0.01 per share on sales near $86.4 million.

At the box office, IMAX titles set a record for third-quarter gross receipts at $219 million, a 17% annual increase.

Source: Fool.com