Brent Lang Executive Editor The return of John Wick, its popular hit man franchise, helped lift quarterly earnings at Lionsgate, enabling the company to best expectations.
For the three-month period ending on March 31, revenues at Lionsgate increased 16.7% to $1.1 billion. The company also reported an operating loss of $49.6 million, which was slightly better than the $50.4 million in losses it logged in the year-ago period.
There was also a net loss attributable to Lionsgate shareholders of $96.8 million or 42 cents net loss per share. Adjusted net income attributable to Lionsgate shareholders in the quarter was $49.2 million or 21 cents in adjusted earnings per share.
Lionsgate’s film business did much of the heavy lifting. The studio segment reported revenue of $823.6 million, an increase of 25% from the prior-year quarter, with the movie portion of that haul increasing by 85%.Read more on variety.com