Quarterly losses shrank at Lionsgate and revenues climbed as the company’s television business rebounded from the twin strikes that had shut down production for much of 2023. Revenue at the company behind “The Hunger Games” and “John Wick” franchises topped out at $1.12 billion for the three-month period ending in March, up from $1.
08 billion in the prior-year quarter. Lionsgate also reported a net loss attributable to shareholder of $39.5 million, which compared favorably to the prior-year quarterly losses of $96.
8 million. It recorded a loss of 22 cent per-share for the period. In the year-ago quarter, Lionsgate had per-share losses of 42 cents.
Lionsgate’s revenues beat Wall Street estimates of $1.11 billion. The earnings report comes after Lionsgate Studios debuted as a standalone public entity on May 14, trading as a single class of stock under the Nasdaq ticker symbol LION — a step toward the full separation of its studio business and Starz.
Through the merger with special-purpose acquisition company Screaming Eagle Acquisition Corp., Lionsgate Studios raised $350 million from a group of investors and gave it an enterprise value of about $4.6 billion.
The company continues to anticipate that the full separation of Lionsgate Studios and Lionsgate (i.e. Starz) will occur by the end of calendar year 2024.
Currently about 87% of the total shares of Lionsgate Studios are held by Lionsgate. Lionsgate Studios is comprised of Lionsgate’s Motion Picture Group and.
