earnings have topped Wall Street estimates with adjusted operating income of $156 million — 56% above consensus — and 33 cents earnings per share — 94% above estimates — for its second quarter that ended Sept. 30.citing the impact of the COVID-19 pandemic. Lionsgate has about 450 employees.
The company reported $166.7 million in library revenue in the quarter, bringing the past 12 months to a record $738.5 million. Motion Picture Group segment profit rose 63% on lower advertising costs and strong demand for library content amid the pandemic. Lionsgate, like all studios, has pulled theatrical releases due to the pandemic, including Chris Rock-Samuel L. Jackson’s “Saw” reboot, Janelle Monae’s “Antebellum” and Sarah Paulson’s “Run.” “Antebellum” was released on PVOD and “Run” will debut on Hulu.“In television, we have over a dozen scripted series and more than 20 unscripted shows back up and running safely and efficiently,” he said.