Lionsgate beat Wall Street analysts’ forecasts for the first quarter of its fiscal 2024, with revenue climbing 2% as the company’s library posted more robust results.
The company also said after the June 30 end of the quarter it had decided that Starz would focus on the U.S., UK and Canada, exiting Latin America before the end of the year.
Over the past few years, during a different operating climate, the premium cable and streaming programmer had set ambitious global expansion plans but has reined them in more recent times.
Starz is slated to split from the company’s studio business in the coming weeks. Total revenue of $909 million came in well ahead of estimates for $885 million, while an adjusted loss per share of 4 cents beat expectations for a loss of 23 cents.
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