American animation studio DreamWorks Animation SKG has reported bigger-than-expected loss in the first quarter. According to the Hollywood studio, the quarterly loss was because the company has spent a lot on restructuring and expanding its business.

DreamWorks Animation reported that its selling and administrative expenses jumped about 87% in the first quarter of 2015. The expenses jumped because of cost related to the company's AwesomenessTV business and marketing of a new television series.

DreamWorks, which is best known for its film franchises like 'Madagascar', 'Shrek' and 'Kung Fu Panda', reported that its shares fell about 5% to $24.70 on Thursday in light extended trading.

DreamWorks Animation, which is based in Glendale, California, has been trying to expand its business. According to reports, diversifying the business is need of the company as it has been facing tough competition from other Hollywood studios like Universal Pictures, which is renowned for movies like 'Despicable Me', and Warner Bros, which is the producer of computer animated adventure comedy film 'The Lego Movie'.

As per the reports, DreamWorks Animation's unit AwesomenessTV, a channel targeted at teens, signed a deal with Google Inc's YouTube on Tuesday. As per the deal, the channel will release feature films over the next two years. The first film could be released this fall, the reports stated.

For the first three months of 2015, DreamWorks reported higher-than-expected revenue. According to the company, the revenue has been helped by hit movies like 'Home' and 'How to Train Your Dragon' franchise.

According to reports, 'Home', which have stars like singer Rihanna and Emmy-award winning actor Jim Parsons, helped the company by pulling about $54 million in its opening weekend. According to a statement by DreamWorks, the film has grossed about $308 million worldwide as of April 30.