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Lionsgate Earnings, Revenues Top Wall Street Estimates

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Lionsgate has reported earnings of $51.1 million, or 23 cents a share, on revenues of $813.7 million for its first fiscal quarter ended June 30 — numbers that were above Wall Street estimates…

has reported earnings of $51.1 million, or 23 cents a share, on revenues of $813.7 million for its first fiscal quarter ended June 30 — numbers that were above Wall Street estimates — amid the COVID-19 pandemic.

Revenues were $38 million above Wall Street estimates and earnings per share outpaced the analyst consensus by 21 cents a share. The report was released Thursday after the stock market closed with revenues declining in motion picture and television production due to the COVD-19 pandemic. Motion picture segment revenue decreased by 29.4% to $280.7 million compared to the prior year quarter and segment profit was $101.1 million. Lionsgate said the performance reflects the impact of theatre closings related to the COVID-19 global pandemic, reduced theatrical expenses and increased home entertainment and library revenues.

 

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