×
You will be redirected back to your article in seconds

Lionsgate Earnings Hit $16 Million, Beating Wall Street Forecasts

Topping Wall Street forecasts, Lionsgate has reported higher earnings of $16 million, or 7 cents a share, for its second quarter that ended on Sept. 30, compared with an $18 million loss in the year-ago quarter.

The studio easily beat analyst forecasts of Lionsgate losing 13 cents a share during the latest quarter.

Revenues were $941 million, slightly below forecasts of $954 million — partly due to Lionsgate not recording the full box office revenue from romantic comedy “The Big Sick,” which has taken in $43 million domestically. The revenue figure was 47% higher than the year-ago period, primarily because of contributions from premium cable network Starz, which Lionsgate bought in December for $4.4 billion.

The studio issued the report on Thursday after the stock market closed. Shares were up 21 cents to $29.30 in afterhours trading.

“Our strong performance in the quarter keeps us on track for our fiscal year expectations, and our robust free cash flow is enabling us to continue our consistent deleveraging ahead of schedule,” Lionsgate CEO Jon Feltheimer said. “Starz continued to report strong overall subscriber gains, with its direct to consumer offering leading the way. Our ability to leverage our strengths, mitigate risk, and focus on segments where we can continue to win puts us on a strong, profitable growth path.”

Lionsgate also reported adjusted operating income before depreciation and amortization of $109 million and operating income of $30 million in the quarter, compared to adjusted OIBDA of negative $24 million and an operating loss of $58 million in the prior year quarter.
Media Networks segment revenues increased 7% to $393.4 million and segment profits increased 42.2% to $116.5 million on higher OTT revenues, lower programming costs and the licensing of “Power.”

Motion Pictures segment revenues declined 24% to $385.7 million primarily driven by fewer wide releases in the quarter. Lionsgate said “The Big Sick” and “The Hitman’s Bodyguard,” which grossed $75 million domestically, performed strongly at the domestic box office. Segment profits improved to $8.9 million from a loss of $5.9 million last year as P&A costs declined.

Television production segment revenues declined 4.7% to $168.7 million due to the timing of episodic deliveries of “Orange is the New Black.” Segment profits declined 30.1% to $8.6 million.

 

 

 

More Film

  • Korea Box Office Weekend: ‘Default’ Wins

    Korea Box Office: ‘Default’ Wins Again, ‘Nutcracker,’ 'Mortal Engines' Fail to Excite

    Korean-made financial drama, “Default” remained on top of the South Korean box office for the second consecutive weekend. The CJ Entertainment release earned $4.95 million from 631,200 admissions between Friday and Sunday for a total of $19.9 million after two weekends on release. “Bohemian Rhapsody” also remained in second. The Fox release earned $4.79 million [...]

  • Ventana Sur: Meikincine Picks Up ‘Just

    Ventana Sur: Meikincine Takes ‘Just Love,’ ‘Super Crazy’(EXCLUSIVE)

    BUENOS AIRES — Lucia and Julia Meik’s Buenos Aires boutique sales company Meikincine has acquired international sales rights to two of the more mainstream Argentine propositions at this year’s Ventana Sur: Andy Caballero and Diego Corsini’s “Just Love,” and “Re Loca,” the Argentine remake of Chile’s “Sin Filtro.” The “Re Loca” deal is for world [...]

  • Priyanka Chopra Variety Power of Women

    Ivanhoe Pictures Boards Priyanka Chopra’s ‘The Sky is Pink’

    “Crazy Rich Asians” producer Ivanhoe Pictures has come on board Priyanka Chopra’s family drama “The Sky Is Pink.” Ivanhoe will co-invest and co-produce. Fact-based, “Pink” is written and directed by top director Shonali Bose and is based on the life of motivational speaker Aisha Chaudhury. The film is Chopra’s first in India since her U.S. [...]

  • Aquaman

    China Box Office: ‘Aquaman’ Sinks All Challengers With $94 Million Opening

    The decision to release “Aquaman” in China two weeks prior to its North American outing paid off handsomely. The DC Comics adaptation achieved a massive $94.1 million opening in three days, according to data from Asian entertainment consultancy Artisan Gateway. The early release meant that the film played against weak opposition – tired Hollywood and [...]

  • Alfonso Cuarón, Emmanuel Lubezki Discuss the

    Alfonso Cuarón Details 'Roma' Cinematography With 'Gravity' DP Emmanuel Lubezki

    As part of an overall push to bring Alfonso Cuarón’s “Roma” to awards season voters, Netflix’s “‘Roma’ Experience'” played host to guild and Academy members Sunday in Hollywood. The all-day event featured panels focused on the film’s crafts and an audio-visual installation akin to the streamer’s FYSee initiative for Emmy contenders, featuring costumes and art [...]

  • IFFAM: Erik Matti Hatches Plans for

    IFFAM: Erik Matti Hatches Plans for ‘On The Job’ Franchise

    Filipino director Erik Matti is known for his eclectic body of work that includes “Honor Thy Father” and “Seklusyon.” His 2013 effort, “On The Job” travelled widely and won several awards including two at the Bucheon International Fantastic Film Festival, and was nominated for an SACD Prize at the Cannes Directors’ Fortnight. Matti is at [...]

  • Joan Chen attends the season premiere

    Joan Chen Talks Diversity in Hollywood, Welcomes #MeToo

    Chinese-American actress, writer and director Joan Chen says that she was flattered when Time magazine described her as the “Elizabeth Taylor of China.” When asked at an in-conversation event in Singapore on Saturday whether she paved the way for Chinese actresses to follow in Hollywood, Chen said, “We never go to work because we want [...]

More From Our Brands

Access exclusive content