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Lionsgate Box Office Roars Back
21 May
Summary
- Lionsgate's revenue climbed to $906.5 million in the last quarter.
- The motion picture group saw revenue up 23% and profits up 39%.
- Box office success of 'The Housemaid' significantly boosted earnings.
Lionsgate reported a substantial increase in revenue for its most recent fiscal quarter, reaching $906.5 million. This marks a notable improvement compared to the $865.6 billion reported in the same period last year.
The motion picture group was the primary driver of this growth, with segment revenue rising by 23% and segment profit climbing by 39%. This recovery follows a period of theatrical slump, with hits like "The Housemaid" and sequels "Greenland" and "The Strangers" released during the quarter.
Overall adjusted net income was $111.6 million, with adjusted earnings per share at 37 cents, exceeding analyst expectations of 23 cents per share. The film division's revenue increased to $652 million from $528.5 million year-over-year.
Conversely, Lionsgate's TV arm saw a sharp decline in revenue to $254.6 million from $543.3 million due to the timing of episode deliveries. Segment profits for the TV division also fell to $30.5 million.
