The return of John Wick, the hit man with a killer track record at the box office, helped lift quarterly earnings atFor the three-month period ending on March 31, revenues at Lionsgate increased 16.7% to $1.1 billion. The company also reported an operating loss of $49.6 million, which was slightly better than the $50.4 million in losses it logged in the year-ago period. There was also a net loss attributable to Lionsgate shareholders of $96.
Lionsgate’s film business has been quiet, but that should change. The company has several prominent movies on the horizon, including “The Hunger Games: Ballad of Songbirds & Snakes,” the raunchy comedy “Joy Ride,” and sequels to “Saw” and “The Expendables.” Lionsgate is also looking to expand the John Wick universe, releasing the Ana de Armas spinoff “Ballerina” and the launch of the prequel television series “The Continental” on Peacock and Amazon.
Lionsgate’s revenue beat Wall Street’s estimates of $994 million, while adjusted earnings per share also was better than consensus estimates of a loss of 9 cents per share. The company’s stock rose more than 3% in after-hours trading on the strength of its earnings results.