MGM Holdings (OTCMKT:MGMB) Posts Recording Earnings
$MGMB, SNE
On the year, MGM (OTCMKT:MGMB) posted $381-M in adjusted earnings before interest, taxes, depreciation and amortization, + 5% over the previous year.
MGM Holdings Thursday reported that Y 2015 marked the 3rd time the parent of Metro-Goldwyn-Mayer earned record annual profits, this time driven by the James Bond “007” movie Spectre.
Revenue rose 8% to $1.56-B. Net income for MGM rose 62% to $252-M, in large part due to a 1-time tax benefit.
MGM has a piece of several successful TV shows, including Teen Wolf, Vikings, Fargo and a slew of reality shows from newly named executive Mark Burnett, including Survivor, The Voice and Shark Tank.
Internally developed films in the works at MGM include Ben Hur, Barbershop: The Next Cut, Me Before You and The Magnificent Seven. The studio has partnered on 23 Jump Street and Gnomeo & Juliet: Sherlock Gnomes.
Beyond Spectre, which was an MGM-Sony (NYSE:SNE) partnership movie.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| OTCMKT:MGMB | 70.5 | 24 Mar-2016 | 6.25 | 68.5 | 70.5 | 68.5 | 70,000 |
| HeffX-LTN Analysis for MGMB: | Overall | Short | Intermediate | Long |
| Neutral (-0.06) | Neutral (0.04) | Neutral (-0.12) | Neutral (-0.10) |
Have a terrific weekend.
Paul Ebeling
HeffX-LTN
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