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Lionsgate Q1 Revenue Slides 16%, But Results Beat Analysts’ Estimates On Lower Costs, Library Boom

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Dade Hayes Finance EditorNo movie theaters? No problem.Lionsgate shrugged off a 16% downturn in revenue in its fiscal first quarter to beat Wall Street estimates during the first quarter entirely affected by COVID-19, which has shuttered theaters, production and much else.

The financial performance was driven by lower expenses, stronger home entertainment demand and a record haul for its library, mainly via a licensing deal for Mad Men.Total revenue of $813.7 — more than one-quarter of which was library-derived — fell from $963.6 million in the same period a year ago.

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