Lions Gate Entertainment beats by $0.26, beats on revs :
- Reports Q2 (Sep) earnings of $0.11 per share, excluding non-recurring items, $0.26 better than the Capital IQ Consensus of ($0.15); revenues rose 34.1% year/year to $639.5 mln vs the $564.64 mln Capital IQ Consensus. Motion Picture Group revenues grew 31% as the Company had seven wide theatrical releases in the quarter compared to three wide theatrical releases in the prior year quarter. Television Production revenues increased 43% from the prior-year quarter due primarily to $43 million in domestic television revenue from the Pilgrim Media Group, acquired in November 2015, as well as the mix of television episodes delivered in the quarter.
- "We achieved solid revenue gains across our core businesses, highlighted by another strong performance from our Television Group, in what we expect to be the last quarter for which we report Lionsgate financial results on a standalone basis," said Lionsgate Chief Executive Officer Jon Feltheimer. "We're making great progress in planning the integration of Starz and Lionsgate, and next quarter we expect to report combined numbers that will begin to reflect the scope of our vertically integrated global content platform, supported by strong free cash flow generation and a more diversified income stream."
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