The performance of Die Another Day worldwide has been good news for MGM for many reasons, one of which has seen Merrill Lynch raise its estimates for the film studios fourth-quarter revenue.
Analyst Jessica Reif Cohen increased her fourth quarter revenue estimate by US$40 million, to US$470 million. Reif Cohen further estimates that MGM shares will generate a profit of US$0.32 this year, as opposed to an estimated loss of US$0.75 a share in 2002.
In the last financial year brought in a revenue of US$375 million, the quarter boosted by the release of Legally Blonde on VHS and DVD.
Source: Reuters News Service