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Lionsgate Quarter Beats Street As Motion Picture Sales Soar, Profits Rise Across Divisions
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deadline.com
deadline.comLionsgate revenue jumped to over $1 billion in the latest quarter, up from $858 million, driven by a nearly 80% jump in the motion picture division.
A net loss of $888 — due to some big one-time charges — narrowed from $1.8 billion the year before. The adjusted numbers all beat Wall Street forecasts.
The shares of up over 10%. September is the end of Lionsgate’s fiscal second quarter. Starz domestic OTT subscribers returned to growth, adding 200K, and total global OTT subscribers increased by 480K sequentially on a pro forma basis.
The charges: $876 million in charges related to Media Networks in the quarter included a $212 million restructuring charge from Starz’ exit of the U.K.
Read more on deadline.com
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