The stock is up about 1.7% in post market trading — after closing at a new high of $34.70 — following the release of earnings for the June quarter that showed strength from TV and digital media. The totals even look good in comparison to last year when the company had The Hunger Games. Lionsgate reported net income of $13.6M, up from a $44.2M net loss in the period last year, on revenues of $569.7M, +20.8%. That beats expectations for revenues of $523M. Earnings at 10 cents a share beat forecasts for 8 cents. Motion Picture segment revenues were +8% to $438.6M. The 16% increase in home entertainment revenue, to $169.4M, offset a decline in theatrical revenues. Digital was +21% to $63.2M. Television production revenues more than doubled, to $131.1M, reflecting delivery of shows including Anger Management, Mad Men, Nashville, and Netflix’ Orange Is The New Black. The improvements from last year illustrate “the diversity of our business,” CEO Jon Feltheimer says. “The appetite for content is growing, domestically and internationally, across multiple platforms and, as a pure content company, we are well positioned to capitalize on this demand.”
Lionsgate Shares Rise After It Beats Fiscal Q1 Forecasts
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