Lions Gate Entertainment Earnings: Here’s Why Investors are Bidding Up Shares
Lions Gate Entertainment Corp. (NYSE:LGF) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.5%.
Lions Gate Entertainment Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.27 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Rose 130.2% to $743.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lions Gate Entertainment Corp. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $707.02 million.
Quoting Management: “The quarter reflected not only the impact of our young adult franchises but strong contributions from the rest of our theatrical releases and our home entertainment and international operations,” said Lionsgate Chief Executive Officer Jon Feltheimer. “Our revenue growth compared to the prior year quarter was matched by continued strong EBITDA and free cash flow that will enable us to continue our focus on optimizing our capital structure and deleveraging our balance sheet.”
Key Stats (on next page)…