IMAX saw a surge in profits this year, with Oppenheimer leading the charge, closely followed by hits like Indiana Jones and the Dial of Destiny.
IMAX has witnessed a stellar performance in the third quarter of 2023 — thanks to some blockbuster releases such as Christopher Nolan’s Oppenheimer and even the apparent box office let-down Mission: Impossible — Dead Reckoning Part One, which has done great for itself on IMAX screens by the way. Both these films have played a pivotal role in improving the company's profits during the most recent quarter.
IMAX reported a net income of $12 million, marking a sharp turnaround from the loss of $9 million they faced the previous year. The company's total revenue stood at $103.9 million, which is an impressive 51% increase year over year. These figures directly correlate to the audience's craving for bigger and better cinematic experiences — contrary to the building belief that streamers have affected traditional cinema.
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IMAX shares rise premarket on 3Q top and bottom line beatJames Rogers is a Financial Columnist for MarketWatch.
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