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.
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