Entertainment film pandemic reports

Lionsgate Earnings Top Wall Street Estimates While Revenues Fall

Reading now: 660
variety.com

Dave McNary Film ReporterLionsgate earnings have topped Wall Street estimates with adjusted operating income of $156 million — 56% above consensus — and 33 cents earnings per share — 94% above estimates — for its second quarter that ended Sept.

30.Several hours earlier, Lionsgate told employees it was laying off 15% of its motion picture group, citing the impact of the COVID-19 pandemic.

Lionsgate has about 450 employees.Revenues were $745 million, narrowly missing estimates by 2%. Its Starz network reported a surge in domestic OTT subscribers from 7.4 million to 9.2 million, and global OTT subscriptions jumped by 2.3 million in the quarter to 13.7 million.

Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA