Dreamworks posts fall in profits

Dreamworks Animation has seen third quarter profit fall 21% as revenue fell despite the strong performance of film Kung Fu Panda.

In the quarter to October earnings fell to $37.4m(£23.4m) from $47m in 2007.

However the results were ahead of analyst predictions and shares were up in after-hours trading.

The firm also said David Geffen, who co-founded DreamWorks with Steven Spielberg and Jeffrey Katzenberg, is stepping down from the board.

In after the bell trading, shares were up $1.69, or 6.6%, to $27.30, after gaining $1.88 to $27.49 during the regular session.

Kung Fu Panda contributed $63.3m to quarterly revenue, mostly from international box office receipts.

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