IMAX shares fell 5.31% during pre-market trading on Friday following the release of the company's first-quarter earnings results.
The company reported adjusted earnings of $0.17 per diluted share, beating analysts' expectations of $0.15 and up from $0.13 a year earlier. However, revenue for the quarter declined to $81.4 million from $86.7 million in the same period last year, despite exceeding the $79.8 million consensus estimate.
Investors appeared to focus on the year-over-year revenue decline, leading to selling pressure in pre-market trading despite the earnings beat.
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