Lionsgate Adjusted Earnings Beat Wall Street Expectations, But Media Networks Subscriber Levels Dip From Prior Quarter
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deadline.comLionsgate reported results for its fiscal 2022 first quarter that cleared the expectations bar but also reflected a quarter-to-quarter subscriber slowdown at Starz.On an adjusted basis, earnings per share of 18 cents doubled Wall Street forecasts but declined from 23 cents in the same period of the prior year.Total revenue rose 11% to $901.2 million, largely in line with analysts’ expectations for the period ending June 30.In reporting the financials, the company noted that the transaction last month in which Lionsgate took a 20% stake in Spyglass Media Group occurred outside of the quarter.Revenue inched up 4% in the Media Networks division, which includes premium network Starz, as profit increased 23% to $88.2 million.
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