DreamWorks beats 2nd quarter estimates on strong showing from ‘Kung Fu Panda,’ ‘Madagascar 2′

DreamWorks beats 2Q expectations on 2008 films

GLENDALE, Calif. — DreamWorks Animation SKG Inc. reports second-quarter earnings that blew past Wall Street forecasts on the strength of last year’s films.

The company said Tuesday that domestic pay TV revenues for “Kung Fu Panda” and international DVD sales of “Madagascar: Escape 2 Africa” bolstered results.

DreamWorks says it earned $26 million, or 30 cents per share, in the three months through June. That’s down from $27 million, or 30 cents per share, a year ago.

Revenue fell 7 percent to $132 million

Analysts polled by Thomson Reuters expected DreamWorks Animation to see revenue of $117 million, with earnings of 16 cents per share.