Streaming was a silver lining for Lionsgate in an otherwise downbeat report of its fiscal fourth quarter results, which showed revenue and earnings below Wall Street expectations.Revenue totaled $930 million in the period ending March 31, with earnings per share of 6 cents.
Analysts had been calling for $961 million and 8 cents a share in those key metrics.The company far exceeded analysts’ consensus expectation of adding 3 million streaming subscribers in the period, tacking on 4.4 million to reach a total of 35.8 million.Of the overall total, 12.8 million subscribers were attributed to the StarzPlay Arabia consortium, with the remainder on Starz.
The Starz subscriber levels rose 47% year over year, with StarzPlay Arabia rising by almost double that rate.Starz, the premium network brand acquired by Lionsgate in 2016, has been in talks in recent months for a sale of a stake or potentially a full acquisition by a new owner.
Names involved in discussions include Roku, Vivendi and private equity giant Apollo.Battered shares of Lionsgate, which have been trading at their lowest point since the final weeks of 2020, slumped another 4% during the trading day to close at $10.57.
Read more on deadline.com
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