Lionsgate punched through Wall Street forecasts reporting a jump in revenue to $1 billion last quarter on a record $845 million in sales from its 17,000 film and television library.
The company swung to a net profit of $16.6 million or 7 cents a share — 26 cents adjusted – for the fiscal third quarter ended in December, from a loss of $45 million the year before.
The studio is prepping for a few big film releases this year — John Wick: Chapter 4 and Hunger Games prequel Ballad of Songbirds & Snakes, and a split of the studio business and Starz.
CEO Jon Feltheimer said the box office is rebounding and supporting a wider range of films. Lionsgate shares popped in late trading following the numbers.
Read more on deadline.com
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