Lions Gate Entertainment Reports Higher Revenue in Q2

Lions Gate Entertainment, based in Santa Monica, California, saw an increase in revenue during the second quarter, largely due to the improved performance of its movies segment.

The company reported a loss of $886.2 million, or $3.79 per share, for the quarter that ended on September 30. This is a significant improvement compared to the loss of $1.81 billion, or $7.95 per share, incurred during the same period last year. Analysts had anticipated a per-share loss of 27 cents, but the adjusted per-share earnings actually came to 21 cents, surpassing expectations.

Revenue for the quarter reached $1.02 billion, exceeding the $1.01 billion forecasted by analysts. This marks an increase from the $875.2 million reported in the previous year.

During the quarter, Lions Gate incurred charges amounting to $876 million related to its Media Networks unit. This includes restructuring charges of $212 million associated with exiting Latin American and U.K. markets.

The motion picture business of Lions Gate experienced a significant boost, with revenue rising by 77%. This growth can be attributed to the success of "John Wick: Chapter Four" in home entertainment.

On the other hand, the television revenue of the company witnessed a decline of 9%, while the media networks segment posted a 5% increase in revenue.