“Star Trek Into Darkness” Misses Estimates on Opening Weekend (VIAB)
Entertainment company, Viacom, Inc. (VIAB) reported impressive sales for its latest Star Trek film release, but still missed estimates for the movie’s opening weekend.
The highly anticipated Star Trek Into Darkness brought in $84.1 million in sales during the first four days after its release on May 15, but came in below analysts estimates of $100 million. Sales were expected to be higher especially since fans had the ability to view the movie on IMAX and 3D screens. Included in the weekend sales were $40 million in overseas sales.
Although the movie missed estimates, it knocked Disney (DIS) property Iron Man 3 to second place after the movie spent two weeks at number one.
A box office analyst from Hollywood.com commented, “Star Trek’ remains a fan-boy movie. It doesn’t seem to have the same kind of cross-over appeal as say an ‘Iron Man’ or some of these others.”
“It’s a very specific brand, but I think the general public would love this movie, because it’s such an action movie. But to get a hundred-million-plus opening weekend, unless you’re `Twilight,’ you really have to cross over to all audiences.”
Viacom shares were down 63 cents, or -0.90% during Monday morning trading. The stock is up 32% YTD.
The Bottom Line
Shares of Viacom, Inc. (VIAB) have a 1.58% yield, based on Friday’s closing price of $69.49.
Viacom, Inc. (VIAB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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