Imax Corporation (NYSE: IMAX) saw its shares plummet 5.58% in pre-market trading on Thursday, despite reporting second-quarter earnings that surpassed analysts' expectations. The stark contrast between the company's financial performance and stock movement has left investors puzzled.

For the second quarter, Imax reported adjusted earnings per share of $0.26, significantly beating the consensus estimate of $0.21 and marking a 44.44% increase from the same period last year. The company's revenue also showed improvement, reaching $91.7 million, slightly above the estimated $91.2 million and representing a 3.06% year-over-year increase. Adjusted net income stood at $14.6 million, surpassing the expected $11.2 million.

Despite these positive results, including a gross margin of 58.5% and an adjusted EBITDA margin of 42.6%, investors seemed unimpressed. The sharp decline in Imax's stock price suggests that other factors, possibly related to future guidance or broader market concerns, may be influencing investor sentiment. As the trading day progresses, market watchers will be keen to see if Imax can recover from this unexpected downturn or if there are underlying issues not apparent in the Q2 results.