Lionsgate Quarterly Earnings Beat Wall Street’s Expectations as Big Changes Loom

for approximately $500 million. The transaction is expected to close by the end of the year. The company’s library includes hits such as “The Woman King” and “Yellowjackets” as well as the “Naked & Afraid” franchise.

“I’m pleased to report a strong financial quarter with another record library performance,” said Lionsgate CEO Jon Feltheimer. “We continued to execute our strategic agenda culminating in our signing a definitive agreement with Hasbro last week to acquire global entertainment platform eOne. The acquisition checks off all the boxes by adding thousands of titles to our library, growing our portfolio of brands and strengthening our scripted and unscripted television business.

Lionsgate also said that Starz had made a strategic decision to exit Latin America by the end of 2023, and will instead focus its operations on the U.S., U.K. and Canada, a sign that it is curtailing its global ambitions.

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RingCentral's stock plunges despite revenue, earnings beatRingCentral Inc.'s stock is down more than 10% in extended trading Monday, despite beating revenue and earnings expectations. The cloud-based phone system provider for small businesses reported a net loss of $21.5 million in the fiscal second quarter, compared to a net loss of $159.5 million in the same quarter last year. Adjusted earnings were 83 cents a share, while revenue increased by 11% to $539 million.
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New York Times stock rallies after big earnings beat, subscription growth helps revenue rise above forecastsShares of New York Times Co. surged 1.6% in premarket trading Tuesday, after the digital and print news company reported second-quarter earnings that beat expectations, as growth in subscription revenue offset flat advertising revenue. Net income fell $46.6 million, or 28 cents a share, from $61.8 million, or 37 cents a share, in the year-ago period.
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