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Lions Gate rises as films spur revenue beat

|About: Lions Gate Entertainment C... (LGF.A)|By: , SA News Editor

Lions Gate Entertainment is higher postmarket (LGF.A +4.2%, LGF.B +3.8%) after its fiscal Q3 revenues topped expectations, thanks for the most part to motion picture outperformance.

Overall revenues rose 7% to just short of $1B, paced by 30%-plus growth at the film studio.

And that was driven largely by the global success of mystery film Knives Out, which has grossed $156.4M domestically since a late-November release, along with a worldwide total nearing $300M.

Expenses rose by 23%, though, and the company swung to an operating loss of $39.5M from a year-ago gain of $86.8M.

That led to an attributable net loss of $91.2M, vs. a year-ago profit of $22.9M.

Global subscribers from Starz, STARZPLAY Arabia and PANTAYA hit 28.5M; global OTT subscribers reached 8.6M.

Revenue by segment: Media Networks, $382.4M (up 4.3%); Motion Picture, $473.9M (up 30.7%); Television Production, $189.4M (down 12.5%).

Cash flow from operations was $215.9M; adjusted free cash flow was $88.4M.

Press release