Lions Gate Q2 Profit Surges

(RTTNews) - Lions Gate Entertainment Corp. (LGF) reported net income for the second quarter of $20.8 million or $0.15 per share, compared to $0.5 million or $0.00 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $33.0 million or $0.23 per share, compared to $25.4 million or $0.18 per share in the prior year quarter.

Revenue for the second quarter rose 11% to $552.9 million from $498.7 million a year ago, driven by strong gains in television production as well as increases in motion picture revenue from pay and free television windows which more than offset declines in theatrical and home entertainment revenue in the quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.11 per share on revenue of $518.72 million for the second quarter. Analysts' estimates typically exclude special items.