Jon Feltheimer reports record exclusive Jon Feltheimer

Lionsgate Misses Quarterly Earnings Expectations, TV Productions Drive Overall Revenue Growth

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Todd Spangler NY Digital EditorLionsgate came in below Wall Street expectations for the first three months of the year, but its TV production division again had stellar results and its Starz streaming business kept on growing.The company reported revenue of $929.9 million, up 6% year over year, while its net loss more than doubled to $104.6 million for the quarter ended March 31.

That translated to adjusted net income of $13 million, or adjusted earnings per share of 6 cents. Lionsgate’s operating loss for the period was $50.4 million, compared with an operating profit of $14.3 million for the first three months of 2021.Starz’s global streaming subscriber base grew by 4.8 million for the quarter, to 24.5 million — up 47% from the year-earlier period. Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.Wall Street analysts on average expected revenue of $961 million and adjusted earnings per share of 10 cents for the quarter, according to S&P Global Market Intelligence.“Despite a very competitive and disruptive environment, I’m pleased to report a strong fourth quarter to close one of our best content-building years as we continue to create significant long term value,” Lionsgate CEO Jon Feltheimer said in a prepared statement. “Our content creation strengths were evident across our businesses as our Television Group achieved record new series launches and current series renewals, our Motion Picture Group continued to add to a strong pipeline of branded properties and our library turned in another standout performance.”Lionsgate’s Motion Picture segment revenue decreased by 1.5% to $288.1 million and profit decreased 19.6% to $49.5 million.

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