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Lionsgate Earnings Beats Sends LGF Stock Higher

LGF stock is down 6% Friday afternoon


Lionsgate (LGF) reported quarterly earnings that were well above the consensus estimate.

LionsgateAnalysts predicted a per-share profit of 17 cents for the studio’s first-quarter report. Lionsgate reported a per-share profit of 30 cents — up from 10 cents a share a year earlier.

The company’s revenue fell to $449.4 million from $569.7 million a year earlier. Lionsgate posted lower sales figures in several areas including the company’s motion picture, television production and home entertainment segments.

LGF stock is down about 6% Friday afternoon.

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