DreamWorks Animation SKG Inc. scored big over the weekend with its latest release “Home” bringing in $54 million in domestic box office revenue.
It was positive news for the Glendale studio following write downs on four of its recent films. “Home” also outperformed analyst expectations, which were in the $30 million to $40 million range. The movie features the voice talents of “Big Bang” star Jim Parsons as an outcast alien who is befriended by a teenager, voiced by pop superstar Rihanna.
Wall Street responded well to the news, with DreamWorks’ shares jumping by 10 percent in early trading before finally closing up more than 6 percent, or $1.49, to $24.17 on the Nasdaq.
“Home” is the second-highest March opening for DreamWorks, exceeded only by the $59.3 million brought in by “Monster vs. Aliens” in 2009.
In the international market, the movie tallied $47.5 million for a total of $102 million in global box office, according to Burbank box office tracking site Box Office Mojo.
DreamWorks has been hard hit financially in recent months following the release of several films that have failed to perform at the box office, forcing layoffs and scuttling two merger opportunities.
In January, the studio announced a restructuring of its film division, including the layoffs of up to 500 employees and the closure of its Redwood City facility as it reduced its annual output from three to two films. It also sold and leased back its Glendale campus.