Lionsgate Posts Loss, Underperforms Wall Street Expectations

Lionsgate has posted a quarterly loss and its revenues and operating income have come in under Wall Street projections, despite growth from its premium cable channel, Starz.

The studio reported a net loss of $24 million, or 11 cents a share, with adjusted operating income of $103 million for its fourth fiscal quarter ended March 31. The earnings per share of 11 cents came in well short of the consensus outlook for 19 cents.

Revenues totaled $914 million, or $22 million under the consensus estimate. Starz reported 24.7 million overall domestic subscribers in the quarter, up 1.2 million from the year-ago quarter, driven by strong over-the-top to more than 4 million subscribers.
See full article at Variety - TV News »

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