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Lionsgate Blows Past Forecasts With Record Library Revenue; Books $81 Million Content Writedown

Jon Feltheimer Pop film reports record google CEO Enterprise

10.02.2023 - 01:13

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deadline.com

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Lionsgate punched through Wall Street forecasts reporting a jump in revenue to $1 billion last quarter on a record $845 million in sales from its 17,000 film and television library.

The company swung to a net profit of $16.6 million or 7 cents a share — 26 cents adjusted – for the fiscal third quarter ended in December, from a loss of $45 million the year before.

The studio is prepping for a few big film releases this year — John Wick: Chapter 4 and Hunger Games prequel Ballad of Songbirds & Snakes, and a split of the studio business and Starz.

CEO Jon Feltheimer said the box office is rebounding and supporting a wider range of films. Lionsgate shares popped in late trading following the numbers.

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