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Marvel Earnings Drop on Lower Movie Activity

Nov 03, 2009 - 10:34 AM EST

Marvel Entertainment (MVL) said third quarter earnings declined to $20.4 million, or 26 cents per share, as compared to $50.6 million, or 64 cents per share, in the same quarter last year. This quarters results did beat analyst estimates. Sales for the quarter dipped to $105.7 million, as compared to $182 million in the same quarter last year, when the company had a higher level of feature film and licensing activity. Disney (DIS) announced in August that it would acquire Marvel and its stable of characters and brands- including Spiderman, Iron Man, The Incredible Hulk and the X-Men and the deal is still expected to close by the end of the year. For MarketNewsVideo.com, I'm Sayoko Murase.

Source: Market News Video (Nov 03, 2009 - 10:34 AM EST)