Marvel announced in its third quarter earning report that the revenue from Iron Man came in earlier than expected, causing the company’s profits to rise by 39% to $50.6 million in net profits.
With no new Marvel-produced releases set for next year and a bunch of “Iron Man” money already accounted for, Marvel was forced to significantly rein in its 2009 forecast while beefing up its full-year 2008 forecast.
Even with expectations that Q4 earnings will be lower, the company stock rose 1.9% by end of the trading day.
Having dealt with companies that refuse to make forward looking statements, having Marvel state it is being cautions for projected profits is quite interesting. The company might have waited a bit longer to release Iron Man on DVD to ensure those sales fall into the last quarter of the year, but considering the slate of movies arriving arriving in the next couple of years, I have a feeling the stock price will rise yet again.
